Lebanon wins pledges of grants, loans exceeding $10bn at Paris conference – minister

Lebanon won pledges of grants and loans exceeding $10 billion on Friday at a Paris conference aimed at rallying international support for the country’s investment program, according to Finance Minister Ali Hassan Khalil. The pledges included $4 billion in World Bank loans, $1.35 billion in loans from the European Bank for Reconstruction and Development, and the renewal of a previously pledged $1 billion credit line from Saudi Arabia, Reuters reported. Lebanon has been battered by seven years of war in neighboring Syria, and is hosting more than 1 million Syrian refugees.