Report: Lebanon Accelerates Solution for Housing Loans Crisis

The Lebanese state has reportedly put forward three proposals to address the growing housing loans crisis threatening “social security” amid "positive" signs that the loans could be “revived” after a halt of six months, the Saudi Asharq al-Awsat reported on Monday.

The Finance Ministry and Lebanon’s Central Bank, Banque du Liban, are set to address the crisis in a bid to contain the negative repercussions, said the daily.

On July 8, Lebanon's Public Corporation for Housing announced that no applications for housing loans will be accepted from July 9.

In March, the total amount allocated for housing loans subsidized by BDL had been reduced due to unprecedented demand.

Asharq al-Awsat said these indicators come in light of reports that BDL will issue a support package to revive the Lebanese economy in the next fiscal year. “Naturally, there will be a part dedicated to supporting housing loans,” said the daily.