Lebanon Businessnews News

$250-million plan to renovate prisons agreed
Cabinet decides to issue new
foreign currency debt notes
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A plan for rehabilitating the country’s prisons was approved by Cabinet on Wednesday (July 25). An executive program will be drafted for implementing the $250-million-project which aims to improve living conditions at the country's 20 overcrowded prisons. The prisons, which have a maximum capacity for 3,600 prisoners, house more than 5,000 inmates.

The Cabinet also decided to issue new foreign currency debt notes. It also agreed to finance a project for the operation and maintenance of the Lebanese University campus in Hadath through $40 million credits. It also authorized the Ministry of Public Works and Transportation to launch tenders for the renovation of roads and agreed to continue financing an ongoing water and sanitation project in Baalbeck.

The Cabinet approved a draft decree amending the regulations governing the activity of travel and tourism agencies. It also agreed to undertake negotiations with ANSALDO/SIEMENS, the consortium undertaking the renovation of the power plants in Bedawi and Zahrani.

The Cabinet also approved the Ministry of Finance’s request to swap a number of State properties with the Central Bank.

Reported by Hanadi Chami
Date Posted: Jul 25, 2012
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