Germany signs financial cooperation agreement with Lebanon

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Germany has signed a financial cooperation agreement with Lebanon to provide the latter with an aid of 50 million euros ($54.5 million), the National News Agency reported…reports Asian Lite News

The agreement was signed by Lebanese Foreign Minister Abdallah Bou Habib and German Ambassador to Lebanon Andreas Kindl, Xinhua reported citing the National News Agency.

The aid will be spent on several projects like building schools, launching water and sanitation programmes for communities hosting refugees, as well as adopting measures necessary to confront the Covid pandemic in Lebanon.

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Hit by years of political chaos and the pandemic, Lebanon has been suffering from an unprecedented financial crisis that has plunged over 74 per cent of the population into poverty.