Report: $1 Billion from Saudi Arabia to Lebanon”s Central Bank

Saudi Arabia is planning to deposit one billion dollars with Lebanon”s central bank in the coming days as part of the kingdom”s support for the country”s economy, An Nahar newspaper reported Friday.

The new move will increase the Saudi deposits to 2 billion dollars, the daily said.

King Abdullah granted the Lebanese Central Bank one billion dollars to shore up its currency and 500 million dollars in aid to help rebuild the country after the Israeli offensive in the summer of 2006.