Beirut: The Lebanese Business Leaders Association (RDCL), in collaboration with the European Union Delegation to Lebanon and the European Bank for Reconstruction and Development (EBRD), hosted a specialized session titled 'Financing the Lebanese Legal Private Sector' at the Beirut Digital District (BDD).
According to National news agency - Lebanon, the session featured key speakers such as Mr. Alessandro Vitadini, Head of the EBRD Office in Lebanon, and Mr. Cyril Dewaleyne of the European Union Delegation to Lebanon. Mr. Jean Tawile, an economist and RDCL Board Member, moderated the discussion, which included RDCL President Mrs. Joumana Saddi Chaya, Board Members, RDCL members, and European institution representatives.
The seminar commenced with RDCL member Mr. Jean-Marc Ingea addressing the severe financing constraints that Lebanon's legal private sector has faced since 2019. He highlighted the absence of legal financing channels, which forces companies into high-risk alternatives and limits their investment capacity. Mr. Ingea reinforced RDCL's commitment to facilitating forums that connect Lebanese enterprises with international partners to transform challenges into actionable solutions.
Mr. Jean Tawile shared results from a live interactive survey, revealing that most companies rely on self-financing or personal shareholder resources due to the lack of traditional financing. He identified obstacles such as limited awareness of programs, complex compliance requirements, and high advisory costs. These findings, he noted, underscore the need for a collective approach to reconnect the private sector with international financing institutions.
Mr. Alessandro Vittadini outlined the EBRD's strategy for supporting Lebanon amid the collapse of traditional banking channels. Emphasizing Lebanon's unique situation, he discussed the EBRD's tailored financing and technical assistance programs for small and medium enterprises, developed in partnership with the European Union.
Mr. Cyril Dewaleyne presented the European Union's cooperative framework with Lebanon, noting that European support is provided as grants to support production and job creation. He discussed new financing mechanisms under development and ongoing collaborations with Lebanon's Ministry of Economy and Trade to enhance export capacities in upcoming financing cycles.
Representatives from the European institutions acknowledged the slow pace of reforms but noted improvements in Lebanon's climate, indicating a shift towards greater openness and cooperation. They expressed willingness to engage constructively with Lebanon's legal private sector.
The event concluded with a question-and-answer session on practical issues like lending conditions, trade finance, and sector-specific support. RDCL President Joumana Saddi Chaya reaffirmed RDCL's mission to defend the legal private sector and emphasized the importance of continued international engagement for future progress.