World Bank loans for Lebanese municipal infrastructure
A joint effort between the Interior Ministry and the World Bank was announced this week to fund a $100 million infrastructure project to improve the social and economic conditions in the country’s 707 municipalities. Projects include construction and rehabilitation of pavements, drinking water networks, drainage and waste systems, retaining structures, and public lighting.
The World Bank contribution will be $80 million in long-term loans while the remaining $20 million will be funded from the Independent Municipal Fund.
A special Project Communication Unit was created at the ministry to act as a loan mediator between municipalities and the Bank. The World Bank will assign a professional team to regularly conduct field studies and evaluations for the approved projects, and to co-operate with auditing firms to investigate accounts and bidding documents in an attempt to track any possible errors. — ( Banque du Liban et d'Outre-Mer Sal )
© 2001 Mena Report (www.menareport.com)