(The Daily Star/HO)
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Central Bank Governor Riad Salameh Tuesday unveiled a new set of packages to stimulate the economy with special emphasis on green projects.Salameh added that the Central Bank launched a national initiative in 2010 to activate renewable projects.The loans for these projects stood at 1 percent interest only and for duration of up to 14 years. Salameh expected the loans earmarked toward environmental projects to reach $600 million in the next two years.Salameh added that the environmental sector only represents 1 percent of Lebanon's GDP but expected this percentage to grow in the next few years.He repeated that the Central Bank will launch $1.5 billion incentive package in 2016 and offer these loans to banks with 1 percent interest only.
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