Lebanon Businessnews News

Pressing economic issues
waiting for Parliament quorum
Grants and soft loans worth
$600 million need ratification
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A Parliamentary session has been called for by Speaker Nabih Berri on November 12-13 to ratify several loans and grants that are about to expire, as well as laws in the fields of finance, infrastructure, and public works.

A 38-item agenda has been set, including $600 million worth of loans and grants, including two loan agreements with the European Investment Bank (EIB) for funding highway projects and the construction of the Bisri Dam. Other items are dedicated to the ratification of loan agreements with the Arab Fund for Economic and Social Development (AFESD) for the completion of wastewater plants and for the restoration of power plants damaged by the Israeli aggression of 2006.

The agenda includes financial draft laws related to cross-border money transfers, the combat of money laundering, taxation information exchange, and overland commerce. The Parliamentary finance and budget committee has approved the taxation and money transfer laws. The joint parliamentary subcommittee had also completed the discussion and approved the anti-money laundering law.

The agenda also includes expenditure for infrastructure and equipment for the Army and the approval of additional funding to cover Treasury advances that were made in past years.
Reported by Yassmine Alieh
Date Posted: Nov 06, 2015
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