Aoun Presses IFC to Step Up Investment in Lebanon
President of the Republic Joseph Aoun called on the International Finance Corporation (IFC) to expand its investments and financing activities in Lebanon, emphasizing the need to translate international interest in the country into tangible projects that support economic recovery, job creation and sustainable growth.
Aoun made the remarks during a meeting at Baabda Palace with an IFC delegation comprising Imad Fakhoury, Thomas Jacobs, Enrique Blanco Armas and Linda Limti.
Discussions focused on strengthening cooperation in private sector financing, attracting foreign investment and supporting infrastructure and development projects.
The delegation conveyed greetings from World Bank Group President Ajay Banga and outlined the IFC’s activities in Lebanon, including advisory services, direct investment and private sector financing.
Delegation members reaffirmed that Lebanon remained a priority country for the IFC, which aims to expand its investments and operations while supporting economic and financial reforms needed to restore confidence and improve the business environment.
They reviewed ongoing advisory initiatives in the energy and airport sectors, alongside existing investments and emerging opportunities across the economy.
The delegation also highlighted the financing challenges facing small and medium-sized enterprises (SMEs) amid Lebanon’s banking crisis, noting that the IFC was exploring alternative financing mechanisms to support businesses, preserve employment and stimulate economic activity.
Aoun stressed that even relatively modest financing could significantly improve the ability of Lebanese enterprises to sustain operations, expand their activities and create jobs.
He urged the IFC to move beyond advisory assistance toward greater direct financing and investment, particularly in SMEs and major infrastructure projects involving energy, transport and other strategic sectors.
The President also called for leveraging the IFC’s and World Bank Group’s capacity to mobilize international investors, promote investment opportunities and mitigate risks through available guarantees and political risk insurance instruments.
The delegation further briefed Aoun on preparations for a new five-year World Bank Group partnership strategy for Lebanon, which will be submitted to the Group’s Board of Directors.
Aoun reaffirmed Lebanon’s considerable human capital and private sector potential, emphasizing that meaningful investment must accompany continued reforms and efforts to rebuild confidence in the Lebanese economy.
The meeting concluded with an agreement on the importance of sustained coordination to accelerate the development of bankable projects and expand investment opportunities aligned with Lebanon’s economic and development priorities.
