BEIRUT, June 5 (Xinhua) — The European Bank for Reconstruction and Development (EBRD) and the European Union have launched a program worth 12.5 million euros (13.6 million U.S. dollars) to support Lebanese small and medium-sized enterprises (SMEs) in adopting sustainable practices, the bank said on Wednesday in a statement.

The initiative will target resource efficiency and circularity in the industrial sector, particularly food and beverage. The EBRD will provide capacity building, advisory services, and grants to help Lebanese SMEs reduce carbon emissions and improve resource use.

“This partnership supports Lebanon’s economic recovery by boosting SME’s sustainability,” said Heike Harmgart, the EBRD’s managing director for the southern and eastern Mediterranean region.

The EBRD has invested over 880 million euros in Lebanon focusing on improvements of private sector competitiveness, sustainable energy, and public services.