Lebanon Businessnews News

A $27 million
loan by AFD
For CNAM building
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Lebanon received a $27 million loan from the Agence Française de Développement (AFD) to establish a new building for the Institut Superieur des Sciences Appliqués et Économiques Centre Régional Associé CNAM Liban (ISSAE CNAM) in Beirut.

ISSAE CNAM also received a $900,000 grant from AFD to finance studies and technical assistance for a project that boosts and develops its concept and support the institution for six years.

The Council for Development and Reconstruction (CDR) will manage the project. Marwan Sinno, Chief of Construction Department of CDR, said: “LACICO, a consultancy firm, was committed to conducting the studies and maps of the building.” He said that the old building will be destroyed and a new one will be built for CNAM and the Faculty of Education in the Lebanese University.

Studies and consultancies will be finalized within three months. CDR will announce a tender for choosing the contractors.

CDR and the Ministry of Education and Higher Education are finalizing a $57 million project, also financed by AFD. It would enhance enrollment in public schools, require the establishment of new schools and the improvement of teachers’ capabilities.
Reported by Rania Ghanem
Date Posted: Dec 18, 2014
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