<p class="MsoNormal">The Daily Star <br>Friday, January 26, 2007 </p>
<p class="MsoNormal"><b style="">Top US CEOs flesh out job-creation plan for Lebanon <em>'When
you invest in a country, you make money for everybody' - embassy official</em> </b></p>
<p class="MsoNormal">By Michael Bluhm <br>
Daily Star staff</p>
<p class="MsoNormal"> <br>BEIRUT: A fund led by leading
American CEOs will finance initiatives in Lebanon to promote job creation and
workforce training, and develop the information technology sector, the group
announced at the Paris III conference Thursday. The Lebanese-American Partnership
- including the heads of Microsoft, Citigroup, Cisco Systems, Intel, Ghafari
Inc., and Occidental Petroleum - did not specify the value of the fund, or
whether it would invest in income-generating activities. But the first $1
million raised will fund relief projects. </p>
<p class="MsoNormal">The group has already compiled a list of 100 potential
recipients in the Lebanese private sector, including ventures in technology,
tourism, banking and finance, agri-business, healthcare and manufacturing. </p>
<p class="MsoNormal">In mid-February, partnership representatives will meet with
US-government commercial agencies, as well as Kafalat and the Investment
Development Authority of Lebanon, to consider joint ventures or other
injections of capital to develop the projects. </p>
<p class="MsoNormal">"The US-Lebanon Partnership is a great friend to the
people of Lebanon,
and a leader in the effort to marshal international support for the rebuilding
efforts," Prime Minister Fouad Siniora said at a meeting of the group on
Thursday morning, which was also attended by US Secretary of State Condoleeza
Rice. </p>
<p class="MsoNormal">"Lebanon
faces real and substantial challenges in the wake of the recent conflict, with
damages to homes, schools and other critical infrastructure costing billions of
dollars," he added. "We will continue to work with the leaders of the
partnership to find a more stable and prosperous future for the Lebanese
people." </p>
<p class="MsoNormal">The partnership was formed in September at the request of US
President George W. Bush. </p>
<p class="MsoNormal">Rice said Thursday that the fund would help lay the
foundation for sustained economic growth and long-term stability. </p>
<p class="MsoNormal">The partnership is working to identify and place 500
Lebanese interns in Lebanon
and the US
over the next three years. The heads of the group have committed to placing 115
interns within their own companies. </p>
<p class="MsoNormal">Cisco also pledged to open new network academies in Lebanon to
train people for IT careers. Cisco chairman and CEO John Chambers visited Lebanon in
November and promised $10 million on the spot, a US Embassy official told The
Daily Star. Cisco officials were in Lebanon Monday and Tuesday to flesh
out plans for the partnership. </p>
<p class="MsoNormal">In Paris, Chambers, Craig Barrett, chairman of Intel
Corporation, and Microsoft CEO Steve Ballmer agreed to bolster Lebanon's IT
infrastructure by developing the international gateway and Internet-exchange
point that connect the country to the world's telecommunications networks.
Partnership companies will provide online access points so the public will have
easier access to public resources such as health care information, online
education, online libraries and job training. </p>
<p class="MsoNormal">Assistance will also be made available to the Lebanese
Telecommunications Regulatory Authority, a key to privatizing the Lebanese
telecom sector, in establishing an enabling environment for ICT in Lebanon
that can promote innovation, investment and infrastructure development. </p>
<p class="MsoNormal">The initiatives were designed to foster long-term
cooperation between the American and Lebanese private sectors, and partner
companies have expressed their commitment to creating lasting, sustainable
development. </p>
<p class="MsoNormal">"This is just a starting point," the embassy
official said. </p>
<p class="MsoNormal">"It's not just we dump some money there. They're very
interested in building something that's sustainable. When you invest in a
country, you make money for everybody. </p>
<p class="MsoNormal">"We want to show US support for Lebanon is not
just government funds. The American people want to work with the Lebanese
people."</p>
<p class="MsoNormal"> <br><br></p>