New slaughterhouse for Tripoli.

Parliament approved two weeks ago a loan agreement with the Kuwait Fund for Arab Economic Development (KFAED), to build and equip a slaughterhouse in Tripoli.

KFAED will offer $19 million to finance the total cost of the project, import and establishment of mechanical and electric equipment, as well as the import of refrigerated vehicles and consultancy services necessary for the slaughterhouse.

The execution is expected to take three years. Project management will be handled by t...

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Health education receives $80 million. Departments will have a capacity for 1,200 students

A loan agreement by the Islamic Development Bank (IDB) to finance a department for public health at the Lebanese University was approved by Parliament last month. The campuses in Tripoli and Fanar will benefit.

IDB will finance the project with a $72.5 million loan and the Government will provide the remaining $7.5 million. The loan will be paid back within 11 years, starting in 2020. The fee margin will be equivalent to the Libor rate (presently at 0.97) for six months plus 135 base poin...

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Municipalities to get $800 million from mobile revenues.

The Council of Ministers issued on November 30 three decrees approving the distribution of LL1,200 billion ($800 million) to municipalities. The sum represents arrears of their share from tax proceeds on mobile phone revenue from the beginning of 2010 to the end of May 2014.

Nearly LL667 billion ($445 million) of the total amount is allocated to municipalities and federations of municipalities, LL527 billion ($351 million) are due to the Independent Municipal Fund, while LL6 billion ($4 ...

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National Bank of Abu Dhabi local branch becomes representative office.

The Central Bank (BDL) has removed the name of National Bank of Abu Dhabi (NBAD) from the official list of banks operating in the market.

"As a clarification of BDL's announcement, NBAD did not shut down its operations locally, but rather will be operational as a representative office instead of a branch," said Ziad El-Rayes, Chief Representative Officer of NBAD-Lebanon.

"Due to a change in the bank's global strategy, the bank reevaluated its international presence before starting...

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Zouk, Jiyeh plants restoration financed. A total of 960 megawatts of power to be refurbished

Parliament has approved, in its plenary session last month, a loan agreement for the restoration of the Zouk and Jiyeh power plants.

The Kuwaiti Fund for Arab Economic Development will finance the agreement with 25 million Kuwaiti dinars ($82 million). The loan has a two percent yearly interest and will be paid back over a period of 20 years. It has a grace period of five years.

The project entails restoring four power generation units in Zouk with a combined capacity of 600 megaw...

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