BEIRUT, May 24 (NNN-NNA) – Lebanese Finance Minister, Yassine Jaber, yesterday signed a 257.8-million-U.S. dollar loan agreement, with World Bank Regional Director, Jean-Christophe Carret, to fund the Greater Beirut Water Supply Second Project, which aims to expand water access to 1.8 million people.
According to a statement released by the Finance Ministry, Jaber highlighted the World Bank’s role in expediting several loans for Lebanon.
“Today (yesterday), we are signing a water project agreement that includes building tunnels to transport water to Greater Beirut, alongside other network improvement works,” he added.
According to the finance minister, the loan agreement “is part of a series.”
“Next week, we’ll submit a loan for agricultural projects and small-scale farmer support to parliament. We’re also working on loans for social assistance, technology, and most importantly a reconstruction fund for infrastructure damaged by the recent war,” said Jaber.
For his part, Carret said, the loan, approved by the World Bank’s Board of Executive Directors in January, aims to “increase water supply coverage for 1.8 million residents in Greater Beirut and Mount Lebanon, significantly reducing reliance on expensive private water tankers, which cost 10 times more.”
He noted that, the project will improve water quality and support water sector reforms for long-term sustainability and efficiency, expressing hope for swift parliamentary ratification and implementation.– NNN-NNA