EBRD and EU Launch €12.5 Million Programme to Boost Lebanese SMEs

EBRD and EU Launch €12.5 Million Programme to Boost Lebanese SMEs

(IN BRIEF) The European Bank for Reconstruction and Development (EBRD) and the European Union (EU) have launched a €12.5 million programme aimed at supporting small and medium-sized enterprises (SMEs) in Lebanon to enhance resource efficiency and circularity measures. Over a nine-year span, the initiative will offer capacity building, tailored advisory services, and grants to SMEs primarily in the food and beverage value chain, with the goal of fostering sustainability and reducing carbon emissions. This programme builds upon previous successful EU-supported initiatives and is expected to contribute to Lebanon’s economic recovery by stimulating growth, job creation, and sustainable development in the country.

(PRESS RELEASE) LONDON, 6-Jun-2024 — /EuropaWire/ — Lebanon’s small and medium-sized enterprises (SMEs) are set to receive a significant boost with the introduction of a new €12.5 million programme aimed at promoting resource efficiency and circularity measures. Spearheaded by the European Bank for Reconstruction and Development (EBRD) and the European Union (EU), this initiative marks a milestone in the support of innovative SMEs within Lebanon.

The programme, spanning nine years, aims to equip Lebanese SMEs, particularly those in the industrial sector, with the tools and knowledge needed to embrace sustainable practices and reduce carbon emissions. Through a combination of capacity building, tailored advisory services, and grants, the initiative seeks to foster a culture of sustainability and circularity within the SME community.

Key to the programme’s success will be its focus on the food and beverage value chain, where companies will receive support to enhance their sustainability practices. Capacity-building activities will raise awareness of resource efficiency and circularity projects, while bespoke advisory services will assist SMEs in identifying and implementing appropriate solutions.

Furthermore, a selection of SMEs will benefit from EU-funded Resource Efficiency and Circularity Grants, aimed at supporting the implementation of recommended measures. These actions are expected to not only sharpen the competitive edge of participating companies but also stimulate growth and job creation, contributing to the sustainable socioeconomic development of Lebanon.

The programme builds upon the achievements of previous EU-supported initiatives, including the Advice for Small Businesses programme launched in 2018 and the Innovation Programme initiated in 2023. These efforts have already supported hundreds of SMEs, providing them with the necessary expertise to address market challenges and enhance productivity.

At a ceremony held at the InterContinental Phoenicia Hotel in Beirut, attended by over 150 representatives from the business community, government officials, and media, the launch of the EU-funded Resource Efficiency and Circularity Programme was celebrated. Heike Harmgart, EBRD Managing Director for the Southern and Eastern Mediterranean Region, emphasized the importance of supporting Lebanese businesses, highlighting their resilience in challenging times.

Alessandra Viezzer, Head of Cooperation at the EU Delegation to Lebanon, reiterated the EU’s commitment to facilitating SMEs’ adoption of resource efficiency practices, underscoring the potential benefits for Lebanon’s economy and its ongoing recovery efforts.

The EBRD, with investments totaling more than €880 million in Lebanon, remains dedicated to enhancing private-sector competitiveness, promoting sustainable energy, and improving public-service quality and efficiency.

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Email: Group-PressUnit@ebrd.com

SOURCE: EBRD