Lebanon gets €75 million from Italy for financing projects
The Government of the Lebanese Republic, represented by the President of the Council for Development and Reconstruction, Eng. Nabil El-Jisr, and the Government of the Italian Republic represented by the Ambassador H.E. Massimo Marotti have signed a framework agreement.
Once the agreement is ratified, Italy will finance € 75 million credits to Lebanon at the most favorable conditions for an Upper Middle Income Country (17-year loans with 5-year grace period at 0 Interest rate).
The proposed projects encompass actions to create new infrastructure for Lebanon, to meet socio-economic needs, to foster sustainable agro-food activities and to enhance the protection of environment.
The framework agreement identifies the following initiatives and funding:
1- €50 million credit to complete the construction of sewage treatment plants in four locations: Bakhoun, Bint Jbeil, Hasbaya and Hermel;
2- €8 million facility to realize an eco-cultural tourism;
3- €7 million credit to finance the Lebanon Industrial Upgrading Program;
4- €10 million facility to Realize the "Sustainable Socio Economic Project Development of Lebanese Coastal Communities".
National News Agency