(The Daily Star / Mahmoud Kheir)
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The Vice President of European Investment Bank Philippe de Fontaine Vive expressed strong faith in Lebanese banking and financial institutions during a visit to Lebanon this week and signed four loans worth 121 million euros ($163.7 million).Byblos Bank and Fransabank each received loans worth 45 million euros from the the EIB.The EIB did not specify an interest rate, but asked that the banks provide "the best conditions available" to companies receiving loans.De Fontaine Vive said that while many banks seek EIB loans, Fransabank and Byblos bank stood out. De Fontaine Vive expressed concern, however, that the presidential vacuum would adversely affect the Lebanese economy, particularly small and medium-sized enterprises that the EIB hopes to reach with the new loans.
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