Miqati, Salameh Work on Securing $200-300 Million Loan for EDL
Contacts have begun between Prime Minister Najib Miqati and Central Bank Governor Riad Salameh to secure a new loan for Elecricite du Liban, al-Akhbar newspaper said.
Informed sources told the newspaper, in remarks published Wednesday, that Salameh is “showing readiness to finance a $200-300 million loan -- to be secured from the funds that were being used to import diesel and not from the obligatory reserves.”
The sources pointed out that Salameh is dealing differently with the new government than he was with the previous government.
“Salameh is showing a tendency to cooperate with Miqati,” the sources said, “which makes it more likely that the loan will go ahead.”
EDL has been recently warning of a total blackout by the end of September, as fuel reserves are close to running out.
Source: Naharnet
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