We consider the simple random walk on Z d , d 3, evolving in a potential of the form βV , where (V (x)) x∈Z d are i.i.d. random variables taking values in [0, +∞), and β > 0. When the potential is integrable, the asymptotic behaviours as β tends to 0 of the associated quenched and annealed Lyapunov exponents are known (and coincide). Here, we do not assume such integrability, and prove a sharp lower bound on the annealed Lyapunov exponent for small β. The result can be rephrased in terms of the decay of the averaged Green function of the Anderson Hamiltonian −△ + βV .MSC 2010: 82B44, 82D30, 60K37.Keywords: Lyapunov exponents, random walk in random potential, Anderson model.so thatIt is easy to see that f is concave increasing and that f (z) ∼ z as z tends to 0. As a consequence, for any M > 0, (1.10) z M f (βz) dµ(z) ∼ β E[V 1 V M ], while, since f (z) z, z>M f (βz) dµ(z) β E[V 1 V >M ].