The U.S.-based World Maronite Union has set up a special fund to finance the purchase of real estate in Lebanon to prevent Hizbullah from setting up a "mini Iran" in the multi-sect country.
The union, in a statement published by Kuwait's as-Siyassa newspaper, noted that Iran has allotted 14 billion dollars to finance the purchase of property owned by Christians in south, east and Mount Lebanon to "link Shiite populated sectors with the aim of setting up the Islamic Republic of Lebanon."

The statement, issued by WMU chairman Sami el-Khoury, said "millions of square meters of land have been sold between 1992 and 2005."

Hizbullah-affiliated investors and real estate companies have purchased land from Christians in areas east of the southern provincial capital of Sidon, Jezzine and the western sector of the Bekaa valley stretching as far east as the town of Zahleh, the statement said.

It said the Iranian government has recently "allotted 30 billion dollars" to finance the project that also aims at linking the Shiite-populated south to the Shiite-populated Baalbek-Hermel Province that borders Syria.

Such a project, according to the statement, also aims at linking the Hermel region to Shiite Villages in Byblos and Kesrouan provinces by purchasing the Christian-owned highlands of the western mountainous range.

"Speedy efforts are underway to ….set up the mini Iran in Lebanon," the statement warned.

"The WMU has decided to sound the alarm and urge Immigrant Maronite Communities and wealthy Lebanese to finance the World Lebanese Fund to confront this conspiracy."

The fund, the statement said, aims at purchasing land from Christians who need to sell "to preserve the Christian nature of these areas and avoid demographic changes.