Conveyance of Litani Water to Southern Lebanon (Supplementary Loan)
A loan agreement for KD 32 million was signed in Beirut on the 16th of June 2015 between the Government of the Republic of Lebanon and the Arab Fund for Economic and Social Development to help finance a project for the Conveyance of Litani Water to Southern Lebanon for Irrigation and Drinking Purposes. (Elevation 800 Meters).
The loan agreement was signed by H.E. Engineer Nabil Al-Jisser, President of the Council for Development and Reconstruction, on behalf of the Lebanese Government and by H.E. Mr. Abdlatif Y. Al-Hamad, Director General/ Chairman of the Board of Directors, on behalf of the Arab Fund.
The project aims at contributing to the development of southern Lebanon, increasing agricultural production, providing potable water and creating additional employment opportunities to improve the living conditions of the citizens living in the project area. This is to be achieved through the transfer of part of the regulated Litani river water from the existing Qaraoun dam to southern Lebanon in order to use it for irrigation and drinking purposes.
The project includes the following main components:
1 - Water Transfer Facilities.
2 - Technical Services.
3 - Land Expropriation.
4 - Institutional Support.
The loan will carry interest at 3% per annum and will be repayable over 22 years with a 5 years grace period.
The Council for Development and Reconstruction will be responsible for the implementation of the project.
The Litani River Authority will be the beneficiary of the loan.
With the signing of this loan, the Arab Fundís total contribution to financing projects in the Republic of Lebanon amounts to KD 489 million.