Projects worth $1.7 billion used IDAL incentives. Helped to provide 7,000 direct jobs in 15 years

The Investment Development Authority of Lebanon (IDAL) provided incentives and facilities to local projects valued at more than $1.7 billion in the past 15 years.

Fifty projects in the agro-industry, manufacturing, tourism, agriculture, information technology, communication, and media sectors benefited from IDAL's financial support. These sectors were identified by Investment Law No.360 as promising investments that have a beneficial socio-economic impact. IDAL said that only projects tha...

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$1.6 billion more funding by international donors. Grants and soft loans shared by Lebanon and Jordan

Eight countries and the European Commission have pledged a package of more than $1 billion to a World Bank-led financing initiative in support of Syrian refugees and host communities in Jordan and Lebanon, as well as recovery and reconstruction across the region.

The package is composed of $141 million in grants, $1 billion in soft loans, and $500 million in guarantees. "The new facility will be able to generate up to $800 million in concessional loans in the next year," according to a s...

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New power plant to replace the one in Jiyyeh. Estimated cost: $500 million for 450 MW

The Council of Ministers has approved a request by the Ministry of Energy and Water (MoEW) for funds to dismantle the existing power plant in Jiyyeh and build a new one.

The Council for Development and Reconstruction (CDR) was commissioned for the task. The estimated cost of the new plant is $500 million.

The ministry is in negotiation with Electricité de France (EDF) to conduct a feasibility study on the deconstruction and decontamination of the current plant, which genera...

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Industrial zones one step closer. Ministry appoints Indian firm for studies

The Ministry of Industry (MoI) has launched preliminary studies for the construction of four industrial zones in Baalbek, Terbol, Qousaya, and Jleiliyeh. The project is part of the Country Program Framework signed between the MoI and the United National Industrial Development Organization (UNIDO).

Industry Minister Hussein Hajj Hassan said: "UNIDO conducted an international tender in which 16 local, European, and international companies participated." As a result of the tender, Indian con...

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Property registry online next week. To provide real estate register, tracking, and fee calculation

The Ministry of Finance's Property Registry will launch three online services on Tuesday, one of them paid and the two others free of charge.

Georges Maarawi, Director General of the Registry, said: "The first service allows citizens to check the title register of properties (ifada ikariya) and print it out through a mobile phone or a computer." This service will cost LL7,500 ($5), and an additional LL1,000 ($0.66) for application submittal. Until now, the service has been available only ...

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