A statement from the French Embassy indicated that France and Saudi Arabia announced on Tuesday a joint development fund for Lebanon, which is suffering from a crisis, and pledged to provide an initial $30 million to support food security and the healthcare sector in the country. The statement noted that the funds would be directed towards humanitarian projects to provide emergency assistance, including food, to the most vulnerable populations in Lebanon, improve access to primary healthcare, and support the main public hospital in the impoverished city of Tripoli in northern Lebanon.
Lebanon is amidst its worst crisis since the civil war that occurred between 1975 and 1990. A financial collapse in 2019 led to a currency crash, pushing over half the population into poverty and making it difficult for many to afford basic necessities such as food and medicine. The announcement of the joint fund follows the return of the Saudi ambassador to Lebanon earlier this month after a five-month absence triggered by a diplomatic rift between the kingdom and Lebanon over the increasing influence of the Iran-backed Hezbollah group.
Saudi Arabia was previously a major donor to Lebanon, providing generous financial aid to political patrons and development and reconstruction efforts. However, Saudi officials have stated that the kingdom found little return on those investments as Lebanon continued to slide further into Iran's sphere of influence. France led efforts to establish the joint fund as part of a campaign to keep Saudi Arabia engaged with Lebanon.
The initial funds will be split equally between the French Development Agency and the King Salman Humanitarian Aid and Relief Center in Saudi Arabia. Tweets from the French Ministry of Foreign Affairs in Arabic stated that the funds would also be used to provide cash assistance benefiting around 7,500 people and infant formula for needy families.
Saudi political analyst Ali al-Shihabi told Reuters, "These are indicators of moral support, not substantial practical aid at this stage," adding, "Unless substantial reforms are made, including governance reforms and significant constraints on Hezbollah's power in Lebanon, I do not expect any substantial imminent material assistance."
