Press release

8 Nov 2006

Beirut

Tallawy Says We Can Challenge and Succeed at Opening of Annual Arab Banking Conference

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UN-ESCWA Executive Secretary Mervat Tallawy hoped the participation of Arab banks in the reconstruction of Lebanon would be one of the first to spark off this process. She commended the outstanding achievements of the Arab banks over the last few years within the national and regional economic sphere. Tallawy noted, “We have a significant example of this, namely the award given to Lebanese Central Bank Governor Riad Salameh. It shows we can rise to the challenge and succeed.” Tallawy was speaking at the opening ceremony of the Annual Arab Banking Conference 2006 ‘Rebuilding Lebanon: Investing in the Future of the Arab World’ being held under the patronage of Lebanese Prime Minister Fouad Siniora at the Phoenicia Intercontinental Hotel from 7 to 9 November 2006 in cooperation with UN-ESCWA. The opening ceremony included opening addresses by Lebanese Finance Minister Jihad Azour, Lebanese Central Bank Governor Riad Salameh, UN-ESCWA Executive Secretary Mervat Tellawy, Chairman of the Association of Banks in Lebanon Francois Bassil, President of the General Union of Chambers of Commerce, Industry and Agriculture for Arab Countries Adnan Al Kassar, and Chairman of the Union of Arab Banks Joseph Torbey. Tallawy said, “The views we heard today from economists and financiers is a clear indicator of their commitment to Lebanon and to the region. It also signifies that they will have a say in national and Arab political life.” She said, “UN-ESCWA is vigorously seeking to tie Lebanon in with its Arab milieu.” She stressed the importance of Arab partnership in the reconstruction process, which must not be solely limited to governments but rather reach the people and the civil society organizations. Tallawy added that UN-ESCWA is working hard with the Union of Arab Banks to launch a Solidarity Fund geared towards enabling Lebanon’s small producers, who were most harshly hit by the recent war and who are micro-enterprises, to rejoin the productive economic cycle and towards providing them with what they need to regain their previous vitality by way of repaying their debts. The Executive Secretary named UN-ESCWA projects in South Lebanon that are slated for re-launching, namely re-activating the local community development centres and alternative crops (zaatar and honey) and the mobile computer schools (E-Caravan). The conference brings together a wide spectrum of stakeholders to discuss issues such as a Strategic Vision for the Reconstruction of Lebanon and Building its Future, Role of the Lebanese Financial Sector in the Post-War Period, and Role of the Arab Financial Sector in the Reconstruction of Lebanon.
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