BEIRUT, Dec. 8 (Xinhua) -- The European Bank for Reconstruction and Development (EBRD) and the European Union (EU) announced on Thursday a new program to support small and medium enterprises (SMEs) in Lebanon.
The bank will deploy EU funds to help SMEs and start-ups innovate their products and increase their competitiveness, reported the National News Agency.
The new five-year program will focus on innovation as a key lever for growth, help SMEs compete on the international stage, increase their market share, create more jobs, and support Lebanon's economic recovery, said the report.
Richard Jones, the EBRD director for SME Finance and Development Regional Network, said its partnership with the EU has helped small businesses adapt and grow, especially in such challenging market conditions. ■