BBAC and UNDP (United Nations Development Programme) signed a Memorandum of Understanding (MOU) for Live Lebanon initiative at Phoenicia Hotel, Beirut. Chairman General Manager of BBAC Mr. Ghassan Assaf and UNDP's Resident Representative Mr. Robert Watkins signed the document in the presence of Mr. Milad Nammour, representing Mr. Haitham Joumaa the General Director of the Ministry of Foreign Affairs and Emigrants – Directorate of Emigrants Affairs, BBAC and UNDP managers and staff members, representatives of international and local organizations, and media representatives.

Within this memorandum, BBAC will offer its support to insure the sustainability of the Live Lebanon initiative for one year. This partnership aims at creating new opportunities for social and economic progress in all Lebanon especially in the deprived areas.

The press conference was opened by Dr. Raghed Assi, UNDP Programme Manager for Social and Local Development, who gave a brief presentation on Live Lebanon initiative and its achievements, illustrated by real-life examples.

Later, Mr. Watkins delivered a speech in which he pointed out that UNDP believes in the strong potential that the vibrant Lebanese private sector has to promote Lebanon’s development. He also stressed the importance of creating public-private partnerships, especially in a time of economic difficulties and global crises, and the critical role they play in the alleviation of poverty and responding to the needs of the most underprivileged communities.

In his speech, Mr. Assaf declared, “To us in BBAC, success is only valuable when it helps people lead better lives and when it allows communities to live with dignity and pride. With the Live Lebanon project we believe that we would achieve our aim by contributing to the welfare of our country…”.

He added, “BBAC is fully in support of Live Lebanon because it reflects what the bank stands for. This national initiative, to us, is a shining star to our continuing commitment to care for our community and to share our experience and knowhow.”

The Live Lebanon initiative connects Lebanese individuals and associations around the world committed to local development projects in Lebanon. These projects are implemented in cooperation with the local municipalities through identifying the region’s priorities: youth, health, environment, education and income generating activities.

Under its corporate social responsibility program, BBAC contributes to achieving sustainable development aiming at resolving social, economic and environmental issues.