PM Hariri: Lebanon to discuss Saudi financial support in new joint body
September 20, 2019, 12:01 pm

PM Hariri: Lebanon to discuss Saudi financial support in new joint body

Lebanon's Prime Minister Saad Hariri announced that he would talk to Saudi Arabia regarding financial support. (File photo Reuters)

Heavily indebted Lebanon will discuss getting help from Saudi Arabia with its financial situation at a new bilateral council the two countries are setting up, the Lebanese prime minister said on Friday.

Work was underway on the new council, and around 19 agreements had been prepared for it, Prime Minister Saad Hariri told reporters after a meeting with French President Emmanuel Macron in Paris.

"There will also be talk regarding how the Kingdom of Saudi Arabia will help us regarding the financial situation we have," Hariri said.

Saudi Finance Minister Mohammed al-Jadaan said on Wednesday Riyadh was in discussions with Lebanon about providing financial support, without giving details.

Earlier this week, a Lebanese official source told Reuters that work was underway to convene the committee in October. Hariri and a top-level Saudi official would head the committee, the source said.

One of the world's most heavily indebted states, Lebanon is trying to carry out long-postponed reforms to put the public finances on a sustainable path.

The impetus has grown as the economy slows and the flow of hard currency from Lebanese abroad dries up; those remittance have long been a key source of financing for the state and current account deficits.

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BENEFIT, the Kingdom’s innovator and leading company in Fintech and electronic financial transactions service, has sponsored the BuildHer CityHack 2025 Hackathon, a two-day event spearheaded by the College of Engineering and Technology at the Royal University for Women (RUW).
Aimed at secondary school students, the event brought together a distinguished group of academic professionals and technology experts to mentor and inspire young participants.
More than 100 high school students from across the Kingdom of Bahrain took part in the hackathon, which featured an intensive programme of training workshops and hands-on sessions. These activities were tailored to enhance participants’ critical thinking, collaborative problem-solving, and team-building capabilities, while also encouraging the development of practical and sustainable solutions to contemporary challenges using modern technological tools.
BENEFIT’s Chief Executive Mr. Abdulwahed AlJanahi, commented: “Our support for this educational hackathon reflects our long-term strategic vision to nurture the talents of emerging national youth and empower the next generation of accomplished female leaders in technology. By fostering creativity and innovation, we aim to contribute meaningfully to Bahrain’s comprehensive development goals and align with the aspirations outlined in the Kingdom’s Vision 2030—an ambition in which BENEFIT plays a central role.”
Professor Riyadh Yousif Hamzah, President of the Royal University for Women, commented: “This initiative reflects our commitment to advancing women in STEM fields. We're cultivating a generation of creative, solution-driven female leaders who will drive national development. Our partnership with BENEFIT exemplifies the powerful synergy between academia and private sector in supporting educational innovation.”
Hanan Abdulla Hasan, Senior Manager, PR & Communication at BENEFIT, said: “We are honoured to collaborate with RUW in supporting this remarkable technology-focused event. It highlights our commitment to social responsibility, and our ongoing efforts to enhance the digital and innovation capabilities of young Bahraini women and foster their ability to harness technological tools in the service of a smarter, more sustainable future.”
For his part, Dr. Humam ElAgha, Acting Dean of the College of Engineering and Technology at the University, said: “BuildHer CityHack 2025 embodies our hands-on approach to education. By tackling real-world problems through creative thinking and sustainable solutions, we're preparing women to thrive in the knowledge economy – a cornerstone of the University's vision.”