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Saudi Arabia pledges continued financial support for Lebanon

BEIRUT: Saudi Ambassador to Lebanon Ali Said al-Awad al-Osseiri, emphasized on Thursday the kingdom’s commitment to continuing to provide financial support to Lebanon. Osseiri was speaking during a press conference held at the Chamber of Commerce, Industry and Agriculture in Lebanon to announce the launching of a Saudi-Lebanese forum which will take place on October 27 in Lebanon. 
“Saudi Arabia was always keen to support the Lebanese people in their efforts to develop their country by providing them with soft loans and financial aid through the Saudi government and the Saudi Fund for Development,” said Osseiri. 
He added that the Saudi-Lebanese Forum would once again demonstrate the extent and depth of relations between the two countries and reinforce and develop these ties in their various aspects. 
The Saudi-Lebanese Forum 2009 will survey and assess recent developments and trends in both the Saudi and Lebanese economies, and highlight business and investment opportunities available in both countries especially in real estate, industry, commerce, transport, banking, services, and other sectors and activities 
Mohammed al-Zaatari, president of the federation of Lebanese Chambers of Commerce, Industry & Agriculture in Lebanon said that the strong relations between the two countries are reflected by the huge Saudi investments available in Lebanon and the presence of a great number of Lebanese expatriates in the kingdom. 
“The Lebanese economy showed a great resilience to the global financial crisis which is attracting a lot of investments, particularly from Saudi Arabia,” he said, noting that the kingdom is also considered to be one of the countries that were least affected by the crisis. 
President of the council of Saudi chambers, Mohammad al-Fadl, said that the forum aims at strengthening the relations between Lebanese and Saudi businessmen. 
He praised the free economic system between the two countries which, in his opinion, helped in creating special economic, touristic and commercial ties between them.

 

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