The Arab Fund for Economic and Social Development is preparing to become the first Arab institution to extend fresh aid and loans to Lebanon, in a move signaling a renewed push to support the country’s economic recovery, the Lebanese presidency announced on Wednesday.

The announcement came after a meeting between Lebanese President Joseph Aoun and Arab Fund President Badr Mohammed al-Saad at the presidential palace in Baabda. According to a statement posted by the Lebanese Presidency on X, al-Saad expressed the fund’s readiness "to be the first Arab institution to provide Lebanon with aid and loans soon, in order to contribute to Lebanon's revival efforts."

Al-Saad highlighted the Arab Fund’s active presence in Lebanon, noting the existence of a technical and study committee in the country dedicated to evaluating and following up on projects.

“We maintain close collaboration with the Council for Development and Reconstruction in Lebanon at the level of studying and implementing projects,” the Fund said in its own statement issued Wednesday.

He also underscored the enduring ties between Lebanon and Kuwait, describing relations between the two countries as “always good and strong.”

For his part, President Aoun struck an optimistic tone about Lebanon’s outlook, asserting that the nation had moved past the most severe phase of its crisis.

“The difficult circumstances Lebanon has gone through are behind us, and we look forward to the coming days with great optimism,” he said.

Aoun reaffirmed his administration’s commitment to rebuilding State institutions on new foundations, placing a strong emphasis on economic and financial reform.

“We are committed to rebuilding the State on new foundations, prioritizing economic and financial reforms, strengthening good governance, and creating the conditions needed to facilitate funding for development projects,” he added.