Fransabank Vice President Adel Kassar, left, Adnan Kassar and Chakrabarti at the news conference at Fransabank HQ in Beirut.(The Daily Star/HO)
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Fransabank, one of the largest banks in Lebanon, received a $50 million credit line from the European Bank for Reconstruction and Development to finance trade activities in Lebanon.It added that Fransabank, the country's third-largest lender, will become the first issuing bank in Lebanon under the EBRD's Trade Facilitation Programme.EBRD's TFP has been running since 1999 and includes over 100 partner banks in 26 countries where the EBRD invests, and more than 800 confirming banks worldwide.To date the Bank has invested over €6.5 billion ($7.9 billion) in 170 projects across the SEMED region.
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