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Lebanon: Preparations Kick Off For CEDRE Projects Implementation

Lebanon: Preparations Kick Off For CEDRE Projects Implementation

Tuesday, 19 February, 2019 - 13:30
Prime Minister Saad Hariri chairs at the Grand Serail a meeting of the International Financial Institutions (IFIs) (NNA)
Beirut - Asharq Al-Awsat
Prime Minister Saad Hariri on Monday held the first consultative meeting with Arab and international financial institutions which provided assistance to Lebanon at the CEDRE Conference. Discussions focused on the necessary steps to accelerate the implementation of the CEDRE conference decisions.

World Bank Regional Director Saroj Kumar Jha said during the meeting: “This was the preparatory meeting of all the international financing institutions and we discussed the priority projects that are included in Lebanon's Capital investment plan (CIP).

All the international financing institutions reconfirmed their support to Lebanon for the implementation of the plan.”

“We also discussed the sectors' priorities and the projects that the international financing institutions will be supporting. This is very positive news for the country. I can say on behalf of the World Bank Group that the pledges of financial support that we made in Paris last year are valid and we look forward to working with the government of Lebanon to help implement the priority projects in various sectors in the economy,” he added.

Hariri's Advisor Nadim Munla underlined that the meeting mainly aimed at “harmonizing projects and financing, to make sure that some sectors do not receive substantial funding while others remain without funding.”

“We agreed on several steps in order to expedite the period between identifying a project and starting to spend on it so it is between 12 to 15 months. The meeting was very successful and the institutions reiterated their commitment to the aid they announced in CEDRE. They also expressed their readiness to provide additional aid if Lebanon carries out the reforms mentioned in the ministerial statement,” he added.

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