Possible $1 billion reconstruction fund to support Lebanon’s recovery, Aoun pushes for foreign relations and economic reforms

BEIRUT, Lebanon — Syriac Maronite Lebanese President Joseph Aoun is making a concerted effort to strengthen Lebanon’s foreign relations and implement sweeping reforms to reinforce state sovereignty. His upcoming visit to Saudi Arabia is expected to focus on securing both economic and military assistance for the struggling nation. 

A vision for balanced diplomacy 

In an exclusive interview with Asharq Al-Awsat, Aoun outlined his reform strategy, emphasizing the need to establish balanced diplomatic relations based on mutual respect. He stressed that Lebanon’s foreign policy should be conducted between states, not between a state and a specific political faction—an implicit critique of Hezbollah’s alignment with Iran. 

Aoun also expressed gratitude to Saudi Crown Prince Mohammed bin Salman for helping to end Lebanon’s presidential vacancy. Speaking to Asharq News, he revealed that he would request the reactivation of a $3 billion Saudi aid package to bolster the Lebanese Armed Forces, which continue to face financial and operational challenges. 

Economic relief: world bank steps in 

On the economic front, Lebanese Finance Minister Yassin Jaber disclosed to Reuters that the World Bank is establishing a $1 billion reconstruction fund to aid Lebanon’s recovery. The fund will launch with an initial $250 million capital injection, with an additional $750 million expected to come from international donors. 

Airport bust raises security concerns 

In a striking development, Lebanese customs authorities at Beirut’s Rafik Hariri International Airport, the only one in Lebanon, seized $2.5 million in cash from a passenger arriving from Turkey, according to three sources cited by Reuters. Initial investigations indicate the funds were intended for Hezbollah, with the passenger attempting to conceal the money during his journey. 

Customs officials confiscated the funds and detained the individual for further questioning regarding the origin and intended use of the money. This incident highlights ongoing concerns about illicit financial flows into Lebanon and their potential impact on the country’s fragile political and economic landscape. 

As Lebanon navigates these complex challenges, Aoun’s diplomatic engagements and reform initiatives will be watched closely —both domestically and internationally—as the country strives to restore stability.