President George W. Bush on Monday urged U.S. corporations to fund efforts to help Lebanese businesses recover from the devastating month-long conflict between Israel and Hezbollah. Our goal and our mission is to help Lebanese citizens and Lebanese businesses not only recover, but to flourish, because we believe strongly in the concept of a democracy in Lebanon, Bush said after a White House meeting with U.S. business leaders on the initiative. The White House said the Overseas Private Investment Corporation (OPIC) and Citibank were announcing a joint public-private effort of $160 million in private capital to help small and medium businesses in Lebanon. That money will be in addition to $250 million in U.S. government aid to Lebanon, about $40 million of which will go to the Lebanese army and the rest to provide emergency assistance and begin the rebuilding process. Bush met with business leaders who he has asked to visit Lebanon to assess the country s needs. This is a very important mission for our country, the president said. Now, Bush said, private-sector individuals and businesses will work together to send a clear message to the Lebanese people: We care about you, we want you to live in a free society, we ve got great hopes for you, we believe in Prime Minister Fouad Siniora, and we will back up our words with actions . Siniora has said his government needs billions of dollars to repair the destruction. A donor conference in Stockholm, Sweden last month received pledges of $940 million in aid.
