Lebanon Businessnews News

$370 million by Islamic Bank
for infrastructure projects
To develop roads, water, and wastewater projects
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The Council for Development and Reconstruction (CDR) signed five agreements with the Islamic Development Bank (IDB) for a number of projects in the fields of transportation, water, and wastewater.

The funding agreements included one related to Bisri Dam valued at $128 million. The dam is part of a greater water augmentation project that consists of developing a 12-megawatt hour hydropower plant, a water treatment facility for 25,000 cubic meters of water a day, water, and wastewater networks. The project, which will supply 12 million m3 of potable water to 1.3 million people, is co-funded by the World Bank.

The second agreement, valued at $87.5 million, is for transforming the Ghadir facility from a preliminary wastewater treatment plant into a primary one. The project will triple the facility’s treatment capacity, develop new networks, and link existing networks to the treatment plant. More than one million individuals are expected to directly benefit from the project.

The CDR and IDB also signed a $61 million agreement for providing potable water in the Jabal Amel area. The project is composed of installing around 8,000 water connections equipped with meters to households. According to the agreement, the project will supply permanent water supply to an area of 150,000 residents.

Tripoli’s eastern ring expressway also received fiscal support worth $69.5 for the initiation of the first phase. The expressway will reduce gridlocks by transferring traffic passing through Tripoli roads and heading towards the north, around the capital. The road, that is seven kilometers long and 18 meters wide, will benefit 800,000 individuals. It starts at the Abu Halka area, south of Tripoli and ends in Beddawi, north of the city. The project includes two service lanes, six bridges, a road crossing, and seven underpasses.

IDB’s assistance includes around $27 million for the completion of the southern coastal highway, stretching from Burj Rahal to Abasiyeh. The project will benefit one million individuals.
Reported by Yassmine Alieh
Date Posted: Mar 29, 2016
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