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Beirut, Lebanon New About Beirut, Lebanon Central Beirut is the financial district of Lebanon. Lebanon's free market economy ensures total freedom of exchange, and free transfer of capital, interest and dividends with no restrictions or controls. The National Institute for Investment Guarantees (NIIG) was created to attract foreign investors. To encourage industrial investments in Lebanon, the government joined the Multilateral Investment Guarantee Agency, which insures investors against transfer and expropriation risks. In the continuing effort to attract industries, the Lebanese Central Bank has begun a new initiative to subsidize interest on industrial loans. Loan guarantees for export are also available through IAIGC (Arab countries), COFACE (France), HERMES (Germany), ECGD (UK), OPIC, Import-Export Bank (US), SACE (Italy), and MIGA (World Bank). Lebanon's well-developed system of education reaches all levels of the population. Literacy is among the highest in the Middle East. Education was once almost exclusively the responsibility of religious communities or foreign groups, but the number of students in public schools has risen to about two-fifths of the total school enrollment. The compulsory five-year primary school program is followed either by a seven-year secondary program (leading to the official baccalaureate certificate) or by a four-year program of technical or vocational training. Major universities include the American University of Beirut, the Université Saint-Joseph (subsidized by the French government and administered by the Jesuit order), the Lebanese University (Université Libanaise), and the Beirut Arab University (an affiliate of the University of Alexandria). Other Major Cities:
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