$20 Million from the World Bank for Electricity, Water

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$20 Million from the World Bank for Electricity, Water
Lebanon and the World Bank have signed two agreements to rehabilitate the electricity sector and complete a water network in the Western Bekaa Valley, An Nahar reported Tuesday.
It said that Finance Minister Jihad Azour told reporters during the signing ceremony at the Grand Serail Monday that a plan to reform the electricity sector will be active in June if endorsed by the cabinet.

He said that the proposed project will also need the approval of the Bank's board of directors.

"Reforms have started on all fronts which do not require the approval of parliament," Azour said.

Azour and Council for Development and Reconstruction (CDR) President Nabil Jisr signed the $20 million agreements with the World Bank's regional director for the Middle East Joseph Saba.

The finance minister said $15 million will be earmarked for the Western Bekaa Valley's water network which will be connected with another network financed by the World Bank.

He said the remaining $5 million will be used "to support the government's electricity reform plan."

"The government through the Higher Privatization Council wants to liberalize the electricity sector," he said.

He said the Bank's contribution was part of a $70 million pledge from the World Bank to Lebanon in the aftermath of the Israeli offensive on the country.

In his turn, Saba said the grant was part of continued efforts by the Bank to provide water and sanitary networks in Lebanon.

"The World Bank has been working on the water sector in Lebanon for more than 15 years," he said.

"This joint effort aims at meeting the needs of people who suffered most from last summer's war," he said.

Beirut, 08 May 07, 10:44


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