Saudis weigh funding for Lebanon civil projects

Lebanon

Saudis weigh funding for Lebanon civil projects

January 26, 2013 01:10 AM

The Daily Star

BEIRUT: Industry Minister Vreij Sabounjian said the Islamic Development Bank is highly interested in funding projects in Lebanon, adding that the country’s high profile participation in the Riyadh economic summit was beneficial in strengthening ties with Arab countries.

“The bank has shown keen interest in infrastructure projects approved by the Lebanese government recently,” he said.

The IDB is the financial arm of the Jeddah-based Organization of the Islamic Conference, which has extended many loans to the government covering the telecommunications, transportation and health care sectors.

A version of this article appeared in the print edition of The Daily Star on January 26, 2013, on page 4.

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Story Summary

Industry Minister Vreij Sabounjian said the Islamic Development Bank is highly interested in funding projects in Lebanon, adding that the country's high profile participation in the Riyadh economic summit was beneficial in strengthening ties with Arab countries.

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