Lebanese fund for to help small industrial businesses

The Lebanese government decided to start establishing a Lebanese fund to support small and medium-sized industrial projects in cooperation with the international finance affiliated to the World Bank.

ArabicNews.com learned from Lebanese sources that the suggested fund will be an independent financial corporation that will present middle and long-term loans from three to eight years to finance new projects or expansions intended for existing projects, and that it is likely that this fund's capital will be $40 million.

The sources added that it is expected that the fund will start its work at the beginning of the coming year as there are more than 23,000 Lebanese corporations classified as small and medium-sized projects that suffer from a financial crisis that threatens to halt their operations.