Lebanon wins $7.6B aid package (from U.S./France)

[Dover]

PARIS, France (Reuters) -- Lebanon won more than $7.6 billion on Thursday to help it cope with a debt mountain and recover from war -- and, some donors hope, to help its U.S.-backed government weather a growing threat from Hezbollah-led opponents.

Saudi Arabia headed the list of donors with a promise of $1.1 billion of development aid and grants, the United States pledged $770 million and the Arab Monetary Fund and World Bank offered funding of around $700 million apiece. (List of donors)

"The total sum collected for Lebanon amounts to a little more than $7.6 billion," French President Jacques Chirac told the conference after around 40 countries and organizations outlined their funding plans at the one-day meeting.

"I'm overjoyed by this," he added to loud applause.

Lebanon is still struggling to rebuild after its 1975-1990 civil war and is weighed down by $40 billion of debt, equal to 180 percent of gross domestic product.

War between Israel and Shiite Hezbollah guerrillas last year left much of the country's infrastructure bombed and many Shi'te villages and districts wrecked...cont'd

http://www.cnn.com/2007/WORLD/meast/01/25/lebanon.donors.reut/index.html

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