Cedar Oxygen was established early 2020 as a private and independent initiative to address the pressing social and economic difficulties of the Lebanese manufacturers.
After a consultation, internal deliberations and a discussion of available options, the Central Bank of Lebanon (BDL) approached Cedar Oxygen and provided a $175m anchor investment in order to directly support the country’s importers and exporters and encourage outside investors.
The daily hurdles that Lebanese manufacturers are facing are related to the Lebanese Pound depreciation, severely limited access to hard currencies and international payment facilities, and the resultant price increases. These factors have created an urgent need for a new approach and for fresh access to alternative capital from outside Lebanon.
The support of the industrial sector to be provided by Cedar Oxygen is designed to help reinvigorate the economy and ultimately help attract outside capital to invest in Lebanon, paving the road to a stronger and more sustainable Lebanese economy.
