LBCI

Salameh: Our priority is maintaining the stability of LBP's exchange rate

12-02-2013 | 13:09

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Salameh: Our priority is maintaining the stability of LBP's exchange rate

President of the Lebanese Chamber of Commerce, Industry and Agriculture (CCIA) of Beirut and Mount Lebanon Mohammad Choucair and Lebanon’s Central Bank Governor Riyad Salameh launched on Tuesday the FARO, the seed capital, development and orientation fund that aims at supporting innovative small and medium enterprises (SMEs) wishing to grow.

Choucair announced that the preparatory stages of the project are finalized, including applications and technical formalities.

“Our meeting today is not to sound the alarm, but to take up the challenge in light of the economic recession,” Choucair stated.

For his part, Salameh said that Lebanon’s priority for 2013 is maintaining the stability of the Lebanese Pound’s exchange rate versus the US Dollar.

The agreement on FARO for Lebanon was signed in Paris on 20 May 2011.

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