The U.S. Agency for International Development Mission Director Raouf Youssef and Finance Minister Jihad Azour signed a Memorandum of Understanding under which the U.S. government will provide Lebanon with $250 million in economic assistance , the U.S. embassy said in a statement.
"The United States is providing the $250 million in economic assistance as part of its $770 million Paris III International Conference pledge to support Lebanon," the embassy said. The assistance aims to support the Lebanese government's "ambitious economic reform program, to help Lebanon reduce its debt and to provide better quality services to all its citizens," it added.
U.S. Ambassador Jeffrey Feltman who was present at the signing ceremony at the Grand Serail Wednesday said: "Sustained economic reform is a real challenge, particularly given the current difficult political circumstances."
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