IBD invests in Lebanon

Lebanese President Elias Hrawi discussed Friday means of boosting relations between Lebanon and the Islamic Bank for Development with the chairman of the IBD, Mohammad Ahmad Ali.

Following the meeting Ali said an IBD team will visit Lebanon in December to draw up a three-year cooperation plan between the two sides. He added that the plan will note priorities expressed by President Hrawi concerning infrastructure projects in Lebanon. These include road construction and energy projects as well as setting up a IBD branch in Lebanon.

For his part, Lebanese Minister of State for Financial Affairs Fuad Sinyurah, noted the IDB's interest in maintaining cooperation with Lebanon and ensuring further facilities to finance infrastructure projects. He indicated that cost of the Bank's operations in Lebanon are estimated at US $193 million, covering fields of education, vocational training, health and electricity.