BEIRUT, Feb 21 (KUNA) -- EU Commissioner for the Mediterranean Dubravka Suica on Friday said the provision of 500 million euros (about USD 525 million) to Lebanon was conditional on the country's restructuring of its banking sector and reaching a deal with the International Monetary Fund (IMF).
She made the statement her meeting with Lebanese President Joseph Aoun to discuss the developments in Lebanon and the region, according to a statement from the Lebanese presidency.
The Lebanese president stressed the need of boosting collaboration with the European Union.
He expressed his desire for direct negotiations over the new charter of the Middle East region, the statement noted.
The charter is the goal of addressing joint challenges, boosting relations among peoples, backing economy and strengthening regional security.
Collaboration with the EU is a base for joint action aiming to enhance stability and growth in Lebanon, it added.
After the meeting, Suica confirmed to reporters the support of the EU and its commission to Lebanon, its new leader and government, referring to the previous allocation of a package of more than USD one billion for Lebanon.
Some USD 525 million of this package was approved last August. (end) ayb.hm