Lebanon arranges EUR-50m EIB loan for green energy, energy efficiency

Dec 28, 2012 - The European Investment Bank (EIB) yesterday said it had agreed to provide a EUR-50-million (USD 66.2m) loan to Lebanon to facilitate small-scale private-sector investments in energy efficiency and renewable energy projects in the country.

The Lebanese Central Bank Banque du Liban will manage the loan.

Private-sector green energy and energy efficiency projects in Lebanon will also take advantage from government incentives and from an existing European Union Investment Grant. Also, a grant of up to EUR 4 million for technical assistance for project implementation and capacity building is expected to come from the Neighbourhood Investment Facility managed by the European Commission.

The EIB also agreed to extend EUR 75 million to Lebanon to finance the rehabilitation and widening of the A1 highway that connects Beirut and Tripoli.

(EUR 1 = USD 1.324)

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