US President George W Bush has encouraged American companies to invest in rebuilding Lebanon from the destruction caused by the Israeli -Hezbollah conflict, saying that he wants the country to "flourish".
By
Reuters

Source:
Reuters
26 Sep 2006 - 12:00 AM  UPDATED 22 Aug 2013 - 12:18 PM

Mr Bush met in the Oval Office with executives of Cisco Systems Inc, Intel Corp, Occidental Petroleum Corp, and GHAFARI Inc, who have created the US-Lebanon Partnership Fund to aid reconstruction efforts.

They’re already made a pledge of $10 million to help young people in southern Lebanon create or find work.

The US Overseas Private Investment Corp and Citibank have formed a joint venture to provide US$160 million in private capital through Lebanese banks to finance small and medium businesses and provide loans to families.

The US government has committed US$250 million to Lebanon’s recovery.

Mr Bush says that helping with the country’s reconstruction would show "we strongly support the young democracies in the Middle East".