What does $3 billion buy these days?

ENAR

Lebanon’s president could barely contain his joy. Speaking only a few days after Christmas, Michel Sleiman announced a late present to the Lebanese in a year that had brought little to celebrate. Speaking live on the major television networks Sleiman announced that Saudi Arabia had agreed to invest in the Lebanese army to the tune of $3 billion, a grant that he said would enable the military to “strengthen its capabilities” and “confront terrorists.” Coming only two days after the killing of a pro-Saudi former minister, the president’s message seemed fairly pointed. The grant could undoubtedly have a major effect on the capacity of the Lebanese Armed Forces (LAF). $3 billion, spread over five years, would be a major boost to Lebanon’s defense budget, which the Stockholm International Peace Research Institute in 2012 estimated at $1.7 billion annually. If invested wisely, the fighting capacity of the military could greatly improve,