$130 million in Saudi loans for Lebanon

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.