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$130 million in Saudi loans for Lebanon
Lebanon-Saudi Arabia, Economics, 3/10/2000
Saudi Arabia decided to grant Lebanon a $130 million loan with easy repayment conditions to ease the effects of the last Israeli aggression on establishments of the Lebanese basic infrastructure.
A press statement issued by the Lebanese embassy in Cairo said that the loan will be due after 25 years, with an allowance period of five years with 2.5% interest to finance the development of basic infrastructure projects.
The total volume of the Saudi aid, cash and the credit loans presented to Lebanon is nearly $1.96 billion, in addition to Saudi deposits of $500 million in Lebanon's central bank to support the Lebanese lira.
Previous Stories:
Saudi crown prince concludes visit to Lebanon
(3/4/2000)
Saudi crown prince concludes Arab tour in Beirut
(3/3/2000)
Al-Walid Bin Talal to lead a campaign for fundraising to Lebanon
(2/11/2000)
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