Financing Development in Lebanon: Review of Progress and Challenges تمويل التنمية في لبنان : تقييم التطور والتحديات

ملخص لمحة سريعة برنامج الحكومة الاصلاحي باريس 3 الانجازات التحديات خلاصة وتوصيات

1. لمحة سريعة The achievement of sustained economic growth and poverty reduction remains the key development challenge facing Lebanon Access to finance has a key role to play in addressing this challenge But Lebanon has, and continues to face, a huge financing gap

لفت الى " أن لبنان خطى خطوات مهمة في تحقيق المطلوب منه، فأرسى منذ بداية التسعينات بنية مميزة في تعبئة الموارد المالية الداخلية، فتم ارساء استقرار نقدي واستقرار في مستويات التسليف بشكل متواز للقطاعين العام والخاص، وقد ارتفعت نسبة الاقراض المحلي الى اجمالي الناتج المحلي الى نحو 240% ، كما ازدادت نسبة الأصول المصرفية من اجمالي الناتج المحلي الى نحو 300% ، وهما نسبتان تفوقان تلك المسجلة في منطقة اليورو، أيضا ارتفعت مستويات عرض الخدمات المصرفية فبات يوجد في لبنان فرع واحد لكل 5570 فرداً، وهي نسبة تعلو عن كل نسب المنطقة، كذلك اعتمد برنامج فاعل في اقراض وكفالة المؤسسات الصغيرة والمتوسطة الحجم ".

4. Key Policy Challenges There are six broad areas in the Monterrey Consensus. A mid term review of the Consensus will take place in the first quarter of Some of the challenges associated with these areas are as follows: 4.1: How to improve domestic resource mobilization Lebanon has low savings ratios relative to other developing countries. It also has low ratios relative to investment requirements 4.2: How to mobilize international financial resources for development FDI inflows continue to be concentrated in a few sectors They have very limited employment impact

4.3: How to increase international financial and technical cooperation  There has also been an effort to increase the quantity as well as effectiveness of aid through reductions in tied aid as well as an increase in the share of grants in total ODA  Despite these gains, donors need to increase the predictability of aid, improve aid allocation (more to poorer countries), as well as align and harmonize aid flows. 4.4: How to use international trade as an engine for development  Lebanon’s share of world trade is very low  Need for assistance in diversifying into production of dynamic products to improve benefits from trade  There is also the need to take Development Issues more seriously in the Doha Round trade talks

4.5: Finding an Effective Solution to the External Debt Crises Facing Lebanon  The initiatives have reduced the debt service burden facing the country  However, 4.6: Addressing Systemic Issues  There is the need to increase for reform of international monetary, financial and trading systems to give more voice to Lebanon in decisions affecting them.

5.How is the government reform program Responds to these Challenges In an effort to confront these challenges, the Lebanese government embarked on the following initiatives :

We are also providing valuable technical assistance to Lebanon countries through the following activities and interventions:

6.Conclusion Limited progress has been made in terms of fulfilling the commitments in the Monterrey Consensus Therefore, more needs to be done by both Lebanon and its development partners to accelerate progress At the national level, there is the need to intensify efforts to mobilize domestic savings, and create a domestic environment conducive to investment and sustained growth At the international level, there is the need for our development partners to translate their pledges to Lebanon into action The challenges are enormous but with the political will of Lebanon leaders and their development partners, Lebanon will hopefully be able to deal with these challenges