MOU between Live Lebanon & BBAC

20 Sep 2012

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Today, at the Phoenicia hotel, UNDP (United Nations Development Programme)and BBAC (Bank of Beirut and the Arab Countries) signed a memorandum of understanding in the presence of Mr. Robert Watkins, UNDP’s Resident Representative, Mr. Ghassan Assaf, BBAC’s Chairman and General Manager, Mr. Milad Nammour, representing Mr. Haytham Joumaa the General Director of the Ministry of Foreign Affairs and Emigrants – Directorate of Emigrants Affairs, delegations from BBAC and UNDP, in addition to representatives from local and international organizations and members from the press. 

Within this memorandum, the BBAC will offer its support to insure the sustainability of the Live Lebanon initiative for one year. This partnership aims at creating new opportunities for social and economic progress in all Lebanon especially in the deprived areas.

At the beginning of the press conference, Dr. Raghed Assi, Social and Local Development Programme Manager, gave a presentation on Live Lebanon initiative, its achievements and success stories from the field.

In his speech, Mr. Robert Watkins declared that UNDP believes in the strong potential that the vibrant Lebanese private sector has to promote Lebanon’s development. “In a time of economic difficulties and global financial crisis, the creation of public-private partnerships can play a critical role in the alleviation of poverty and responding to the needs of the most underprivileged communities”.

“To us in BBAC, success is only valuable when it helps people lead better lives and when it allows communities to live with dignity and pride” said Mr. Ghassan Assaf, adding: “with the Live Lebanon project we believe that we would achieve our aim by contributing to the welfare of our country”. “BBAC is fully in support of Live Lebanon because it reflects what the bank stands for. This national initiative, to us, is a shining star to our continuing commitment to care for our community and to share our experience and know how”. 

At the end of the press conference, Mr. Robert Watkins, UNDP’s Resident Representative, and Mr. Ghassan Assaf, BBAC’s Chairman and General Manager signed the Memorandum of Understanding. 

The Live Lebanon initiative connects Lebanese individuals and associations around the world committed to local development projects in Lebanon. These projects are implemented in cooperation with the local municipalities through identifying the region’s priorities: youth, health, environment, education and income generating activities.
Under its corporate social responsibility program, BBAC contributes to help achieving sustainable development aiming at resolving the social, economic and environmental issues.