AFD loans Lebanon $12 million for pipeline rehabilitation
The French Development Agency (AFD) has awarded the government of Lebanon a $12 million soft loan for the rehabilitation of a water pipeline network in the southern region of Nabatieh and Hebbarieh, reported Lebinvest. The 10-year loan has a 2.5 percent interest rate and a four-year grace period.
The AFD has financed close to $30 million worth of projects in Lebanon, including the funding of two water projects in Jezzine and Tripoli. AFD’s private sector arm Proparco, extended a $10 million loan to Byblos Bank to finance the formation and development of small and medium-sized enterprises.
AFD provides financial facilities in order to support job-creating productive projects, both public and private, some of which are co-financed with other funding agencies. It also deploys and administers structural adjustment aid allocated by the government. It operates in over 60 countries and has a network of forty-five offices and agencies around the world. — (menareport.com)
© 2002 Mena Report (www.menareport.com)