BDL said it will offer subsidized loans to the banks which meet the required conditions. REUTERS/Jamal Saidi
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Central Bank governor Riad Salameh Friday unveiled a $1 billion incentive package aimed at stimulating the Lebanese economy.BDL will offer subsidized loans through commercial banks to housing, productive sectors, environmentally friendly projects and education.BDL said it will offer subsidized loans to the banks which meet the required conditions.The fourth tranche involves micro loans financed by the commercial banks with a total value of LL30 billion.BDL usually subsidizes the interest rates on these loans in order to allow low-income families purchase homes at low interest.Some bankers told The Daily Star that the interest rates on loans have been increased by 1-1.5 percentage points after the interest rates on Lebanese pound deposits jumped to 8 percent.They added that increasing the interest rates on loans is also aimed at containing the new taxes on banks, which took effect at the beginning of 2018 .
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