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FinancialNews
07-04-18
Lebanon to receive USD1bn development loan from Saudi Arabia
(MENAFN) A Lebanese government official revealed while speaking at a donor conference that Lebanon is set to be awarded with an USD1 billion development loan from Saudi Arabia.
Economic adviser to Lebanese Prime Minister Saad Hariri, Nadim Mounla explained "it's a renewal of a line of credit that was there in the past and was not used."
It comes after Lebanon undergone a collapse in its economy due to a series of political issues and the Syrian war which led to refugees to take shelter in Lebanon.
The development loan also appeared as Western leaders raised concerns over Lebanon's risk to be affected from the crisis.
MENAFN0704201800450000ID1096704962
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