Expat businessmen launch $100 million investment fund. To support infrastructure projects - Lebanon

Expat businessmen launch
$100 million investment fund
To support infrastructure projects
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The Federation of Global Lebanese Investors has launched a $100 million investment fund to support infrastructure projects in the country.

The fund will invest in the infrastructure Public-Private Partnership (PPP) projects that were included in the government’s CEDRE plan. Some 92 expatriate Lebanese businessmen have subscribed to the fund.

PPP projects are valued at $6 billion, according to the High Council for Privatization.

“The World Bank, the European Investment Banks, and the International Finance Corporation (IFC) showed their interest in working with the private sector,” said Jacques Sarraf, Chairman of the federation.

The federation includes 1,000 local and expatriate businessmen in 40 countries. “Several funds will be established in later stages to attract expatriate businessmen investments,” Sarraf said.

The fund was established in Switzerland to ensure transparency, Sarraf said.
Reported by Rania Ghanem
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Date Posted: Jan 25, 2019