$100 million for Litani’s Canal 800
Grant pending Government approval
A $100 million loan agreement was signed between the Council for Development and Reconstruction (CDR) and the Kuwaiti Fund for Arab Economic Development (KFAED). The loan will be used to finance the development of Canal 800.
The Litani River Authority launched Works on the first phase of Canal 800 last year. The project would convey around 120 million cubic meters of water to irrigate 1,500 hectares of agricultural land under 800 meters of elevation. The project covers 98 villages in Nabatieh, the Marjayoun plain and South Litani to the southern borders.
The agreement will be referred to the Government for approval. The overall cost of the project is estimated at $360 million. The first phase will be completed within two years. Canal 800 is co-financed by the Arab Fund for Economic and Social Development (AFESD).
Reported by Yassmine Alieh
Date Posted: Feb 16, 2015