The EBRD pointed out that the GEFF Lebanon would provide financing in the form of senior unsecured loans to participating financial institutions, which, in turn, would extend the funds to private sector borrowers that invest in green technologies & services. The GEFF Lebanon program consists of two phases. The first phase, which the EBRD intends to launch in late 2019 or early 2020, would provide private sector borrowers with up to $100m in funding through two participating financial institutions. The second phase, which the EBRD expects to launch in the second half of 2020, would allocate another $100m in funds through two or three participating financial institutions to invest in more innovative and high performance green technologies. In parallel, the EBRD said that it intends to contract a consulting firm or firms that would support the GEFF Lebanon program, from the preparation stage to the implementation of the program.

Economic Research & Analysis Department 

Byblos Bank Group

of surveyed companies have one or more female corporate board members, with women representing 14% of all board members in Lebanon. The study covers a sample of 1,600 Lebanese companies, and uses data collected through an analysis of publicly available information and the Masri enterprise database. It is also based on qualitative analysis, which entails focus groups and interviews with male and female board directors and executives, as well as on an online survey.

The study found that gender-diverse boards lead to stronger company performance. It noted that Lebanese firms that have female board members posted an aggregate return on equity (ROE) of 20.7% in the 2014-16 period, which is twice as high as the ROE of 10.3% for corporates with all-male boards. It also indicated that gender-diverse boards showed increased preference for equity financing and less dependence on debt. In this context, it pointed out that the average equity-to-asset ratio of Lebanese companies with gender-diverse boards was 14.7% in the 2014-16 period, compared to a ratio of 2.8% for corporates without female participation. It added that the aggregate debt-to-asset ratio of firms with gender-diverse boards was 12 percentage points lower than the ratio of corporates with an all-male board of directors.

In parallel, the qualitative analysis of the study shows that female attributes, such as excellent problem-solving skills and sound economic and strategic thinking skills, benefit companies in Lebanon, especially in the areas of risk management and planning, as well as in setting a firm’s strategic direction. It also considered that female corporate board members in Lebanon face several barriers. It said that women in the country are subject to societal expectations about their roles, which hinders their ambitions and opportunities. It added that even highly qualified female board members in Lebanon experience marginalization, and have less authority and executive power than their male counterparts.

Further, it considered that there is an experience gap between females and males in the country, but anticipated the experience gender gap to narrow. It noted that more women than men are continuing their education beyond the secondary-level, and many of them are pursuing corporate careers. As such, it expected women’s experience levels to eventually reach parity with their male peers in many sectors in the country. Still, it pointed out that concrete action is needed to develop the untapped potential of a larger female presence in businesses, which, in turn, would lead to job creation and boost economic growth.

Economic Research & Analysis Department 
Byblos Bank Group

First, the committee recommended that the Central Inspection Board, which monitors the activities of the public administration, should assess the current structure of state agencies by conducting a comprehensive survey to determine the number of existing workers and employees in the public administration, and to classify them by departments and by positions.
Second, the committee asked Parliament to enact a law that allows the restructuring of the public administration, specifically to modernize it and redefine the job description of each position, given that the current job description system in the public sector dates back to 1959.

It called for the review of 86 bodies, agencies, authorities and councils that operate in parallel to the public administration, in order to eliminate or merge some of them, as well as to establish new ones such as the Civil Aviation Authority.
Third, the committee endorsed the Central Inspection Board’s recommendation to develop a system that evaluates government services. It noted that an electronic system connected to the Central Inspection Board should be installed in each administration and department, which would allow the evaluation of the quality of public services.

Byblos Bank Economic Research & Analysis Department
www.byblosbank.com

His Holiness highly appreciated this important initiative of Michel Goguikian in creating such a foundation in memory of his father, who served Lebanon, as ambassador, with profound love and dedication.

During this event scholars who were on Honors list received certifications of excellence from the Foundation and those who graduated were recognized.

Vickie Kendirjian explained about her job as a Project Manger at the Ministry of the State for Women’s Affairs and encouraged others to apply for jobs in the public sector.