26 April 2017
Promoter – Financial Intermediary
REPUBLIC OF LEBANON - COUNCIL FOR DEVELOPMENT AND RECONSTRUCTION
The project involves the construction of three industrial zones in Baalbek, Tourbol-Kosaya and Deir El Moukhaless-Jleiliye. The industrial zones will host both new industries as well as companies re-locating from other parts of Lebanon. Specific value-chains/clusters have been identified for each of the zones. The EIB loan will finance mixed infrastructure in the industrial zones (e.g. water, wastewater, roads, electricity, etc).
The project will bring several benefits, contributing inter alia to: (i) increased regional and local development; (ii) boosting the competitiveness and productivity of the Lebanese industrial sector; (iii) job creation; (iv) attracting foreign direct investment (FDI) and boosting Lebanese exports; (v) overall, increasing the resilience of the Lebanese industrial sector to external negative shocks and destabilising factors.
Under ELM Guarantee
This operation is covered by the EU Guarantee for EIB loans outside the EU.
Proposed EIB finance (Approximate amount)
EUR 52 million
Total cost (Approximate amount)
EUR 105 million
The project's compliance with all applicable national environmental legislation as well as EIB environmental and social principles, standards and practices, including labour conditions in the industrial zones to be implemented, will be verified during appraisal.
The Bank will require the promoter to ensure that implementation of the project will be done in accordance with the Bank's Guide to Procurement.
Signed - 30/04/2018