Lebanon Businessnews News
 

$30 million in wastewater funding for Bekaa
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The Council of Ministers has approved a loan agreement between the Council for Development and Reconstruction (CDR) and the Italian Directorate General for Development Cooperation of the Ministry of Foreign Affairs to execute a wastewater treatment project in Bekaa.

The contract entails the construction of a treatment station with a capacity of 32,000 cubic meters a day, collection networks and primary connections, supervision by an Italian architectural committee, and two years of maintenance.

The project targets the towns of Anjar, Majdel Anjar, Bar Elias, Marj, Rawda, Souairi, and Kob Elias. It is expected to benefit these areas until 2025, as population is expected to grow to 260,000. The project will be implemented over five years.

The value of the loan, which will be funded through Artigiancassa Bank, is 26.5 million euro ($30 million). The total value of the project is 28.1 million euro ($32 million). The CDR will fund environmental impact assessment studies for 1.6 million euro ($2 million). The loan will be paid back in 26 installments, free of interest over 40 years, with a grace period of 27 years.
Reported by Yassmine Alieh
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Date Posted: May 13, 2016