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AAI Welcomes Bush Administration Initiative to Help Rebuild War-Torn Lebanon

AAI Press Release
Posted on Tuesday September 26, 2006

Joint public-private sector initiative praised as positive first step in reconstruction effort

WASHINGTON – The Arab American Institute (AAI) today welcomed the Bush Administration’s recent designation of a Presidential Delegation to Lebanon and its renewed commitment to help rebuild that war-battered country.

During a conference call, leading Arab Americans were briefed on a recent fact-finding trip organized by Assistant Secretary of State Dina Powell that included private-sector leaders such as Craig Barrett, chairman of Intel Corporation; John Chambers, president and CEO of Cisco Systems; Yousif Ghafari, chairman of GHAFARI, Inc. and Ray Irani, chairman, CEO and president of Occidental Petroleum Corporation.

AAI Chairman George Salem and President James Zogby were among a group of Arab American leaders invited to participate in the conference call with Powell, Ghafari and a representative of Cisco.

Powell announced the formation of a $160 million fund by the U.S. Overseas Private Investment Corp. (OPIC), in conjunction with Citibank, to guarantee the financing of small- and medium-sized businesses and provide loans to families. Additionally, GHAFARI, Intel and Cisco committed to a $10 million initiative to create jobs and training programs for Lebanese. The U.S.-Lebanon Partnership Fund has created a website, www.LebanonPartnership.org, to promote its efforts.

“It’s encouraging that the Bush Administration is taking the lead in such an important effort,” Salem said. “Lebanon was and remains one of the shining examples of democracy at work in the Middle East, and it’s important that we support the Lebanese people at this important juncture in their country’s economic and political development.”

Zogby welcomed the private sector’s engagement in this effort.

“Private sector initiatives are always important, and the leadership of prominent Lebanese-American businesspeople should inspire other members of the community to step up and invest in Lebanon so that Lebanon can rebuild what was destroyed during this summer’s assault,” he said.

Senator John Sununu Praises Lebanon Initiative
September 25, 2006