BEIRUT, April 5 (Xinhua) -- Germany on Tuesday signed a financial cooperation agreement with Lebanon to provide the latter with 50 million euros (54.5 million U.S. dollars) in aid, the National News Agency reported.
The agreement was signed by Lebanese Foreign Minister Abdallah Bou Habib and German Ambassador to Lebanon Andreas Kindl.
The aid will be spent on several projects on building schools, launching water and sanitation programs for communities hosting refugees, as well as adopting measures necessary to confront the COVID-19 pandemic in Lebanon.
Hit by years of political chaos and the pandemic, Lebanon has been suffering from an unprecedented financial crisis that has plunged over 74 percent of the population into poverty. ■