Arab Fund to lend $165 million to Housing Bank. Proceeds are adequate to lend to over 1,000 borrowers

Banque de l'Habitat (The Housing Bank) has secured a 30-year soft loan of KD50 million ($165 million) from the Arab Fund for Economic and Social Development, said Joseph Sassine, Chairman of The Housing Bank.

A preliminary agreement has been signed between the Arab Fund and the Council for Development and Reconstruction (CDR) for this purpose. The Cabinet is expected to issue the related decree in its next session.

The Housing Bank will pay an interest rate of 2.5 percent on th...

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Gross market debt in downtrend since 2013. Dwindling share mitigates country’s default risk

The share of the gross market debt of the total public debt dropped ten percentage points over the period 2013/2018 and reached 59 percent at the end of last year, driven by the State's growing indebtedness to the Central Bank (BDL), according to the Ministry of Finance's 'Debt and Debt Markets' report for the fourth quarter of 2018.

Gross market debt is the portion of public debt that is held by banks and other private sector lenders. It is computed by deducting from the gross public deb...

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Banque Libano-Française Digital Banking Experience. Sponsored Content

For immediate release - Beirut, January 15, 2019. Banque Libano-Française (BLF) has implemented a new e-branch concept in Mar Mikhael, aiming at offering an optimized digital banking experience to its clients and the visitors of this area. Customers will be able to withdraw, deposit cash and checks, and benefit from many other innovative services, through two ATMs. They will also have the possibility to access in a simple, confidential and secured way, their accounts through BLF e-banking...

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Expat businessmen launch $100 million investment fund. To support infrastructure projects

The Federation of Global Lebanese Investors has launched a $100 million investment fund to support infrastructure projects in the country.

The fund will invest in the infrastructure Public-Private Partnership (PPP) projects that were included in the government's CEDRE plan. Some 92 expatriate Lebanese businessmen have subscribed to the fund.

PPP projects are valued at $6 billion, according to the High Council for Privatization.

"The World Bank, the European Investment Bank...

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Calls to establish funds for reconstruction, digital tech. $100 million pledged by Kuwait and Qatar

The Arab Economic and Social Development Summit asked Arab countries to support the creation of a fund with a capital of $200 million to invest in technology and the digital economy.

Kuwait, which is the initiator of the fund project, will contribute $50 million to its capital. The Qatari government will contribute another $50 million. The private sector will also be able to participate in the capital of the fund.

The new initiative will be managed by the Arab Fund for Economic and...

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