France, Saudi Arabia pledge $30 mn to support Lebanon

Beirut, April 27 (IANS) France and Saudi Arabia has announced the creation of a joint development fund worth $30 million to support crisis-hit Lebanon, a statement released by the French Embassy in Lebanon said.

The funds will be spent on humanitarian projects by providing emergency aid, including food and healthcare services to the most vulnerable populations in Lebanon, in addition to supporting the main public hospital in the northern city of Tripoli, Xinhua news agency reported,

The funds will also be used to provide cash aid benefitting around 7,500 people and provide baby milk for families in need, the French Foreign Ministry said in a tweet.

Lebanon has been suffering from a severe crisis, leading to the collapse of the local currency while plunging over 70 per cent of the population into poverty.