SAWT BEIRUT INTERNATIONAL

| 20 September 2021, Monday |

Diab signs three laws related to agreements with World Bank, Arab Fund

Caretaker Prime Minister, Hassan Diab, has signed the amended law relating to the conclusion of the loan agreement granted by the International Bank for Reconstruction and Development, which amounts to USD 30 million, to support innovation in small and medium-sized enterprises, in terms of redistributing the loan’s value so that an amount of USD 5.5 million is allocated to support the capacity of companies to respond to the coronavirus crisis, provided that this amount is reallocated to its original purpose if not used within a year to serve the desired goal.

The Prime Minister has also signed Law No. 180 of 12/6/2020 authorizing the government to make an amendment to the appendix of the agreement which may be concluded with the Arab Fund for Economic and Social Development, to amend the housing loan cap as follows:
450 million LBP for low-income people instead of 300 million LBP
600 million LBP for middle-income people instead of 450 million LBP.

Premier Diab also signed the law approving the conclusion of the loan agreement worth USD 246 million, which was signed on 29/1/2021 between the Republic of Lebanon and the International Bank for Reconstruction and Development, to implement the emergency project to support the social safety net in response to the Covid-19 pandemic and the economic crisis in Lebanon.