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Lebanon gets USD 65M Loan for Electricity Relay Stations March 12, 2016 – The Daily Star
Lebanon received a USD 65 million loan from Bank Audi to raise the capacity of three electricity relay stations to 490MW. The agreement was signed by Finance Minister Ali Hasan Khalil and Raymond Audi, Chairman of the Bank, to finance work at the electrical relay stations serving Beirut’s southern suburbs and Tripoli.
Khalil said that the loan agreement with Bank Audi comes under the framework of Law 181 pertaining to financing electricity projects in Lebanon. “These are very important projects and will allow different regions to benefit from electricity production.”
He underscored the importance of securing funds to complete all the approved projects. Total electricity production in Lebanon ranges between just 1,400 to 1,600 MW. However, experts say the country needs over 2,400 MW of electricity to end chronic power rationing and allow 24-hour service. The state-owned Electricité du Liban applies severe electricity cuts in most parts of the country due to the limited output capacity of the country’s aging power plants.
Khalil said there is solid cooperation between the public and private sectors, noting that after long discussions in the Cabinet, the ministers authorizsd the Finance Ministry to sign the loan agreement with Bank Audi.
Table 9: Infrastructure Investments
This table exposes some of the internal infrastructure business investments made which will impact our support in services to the communities that are in the direct vicinity.