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FinancialNews
02-03-19
Lebanese FFA, IFC join hands to improve infrastructure
(MENAFN) Lebanon's FFA Private Bank and the International Finance Corporation (IFC) penned a memorandum of understanding on boosting infrastructure services.
Under the agreement, FFA will be joining hands with IFC in the establishment and management of a mezzanine infrastructure fund which now reaches USD100 million.
The fund is looking to close in on a gap created in the funding of infrastructure initiatives launched in Lebanon.
In a statement, IFC confirmed that it was all set to cooperation with FFA in enhancing availability to essential services including power.
FFA Chairman and CEO Jean Riachi stated "we are proud to have the IFC's support in this endeavor, which will be our contribution to the success of the Capital Investment Plan adopted by the Lebanese government and endorsed by the international community during CEDRE conference."
MENAFN0203201900450000ID1098195053
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