Date : 25/07/2006
KUN0078 4 GEN 0158 FRANCE /AFP -DZZ0
ECO-LEBANON-SAUDI-DEPOSIT
Saudi Arabia deposits one billion dollars in Lebanon's central bank
BEIRUT, July 25 (KUNA) -- Saudi Arabia is depositing one billion dollars in
Lebanon's central bank in a bid to prop up the exchange rate of the Lebanese
pound, announced Tuesday Lebanese Prime Minister Fuad al-Siniora.
Moreover Saudi Arabia has granted Lebanon USD 50 million to be used in
assisting displaced Lebanese and evacuees seeking refuge from the ongoing
military clashes between Hizbollah and Israel, said al-Siniora, in a statement
issued by the government.
Saudi Arabia, furthermore, has allocated USD 500 million for the
establishment of an Arab fund to go toward defraying the cost of
reconstruction of the war-damaged infrastructure in Lebanon, said al-Siniora.
The statement by al-Siniora was announced on the eve of his departure to
Rome to represent his country at an international conference on Lebanon. (end)
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