EIB agrees €151m financing for Lebanon road improvements

The European Investment Bank and the Council for Development and Reconstruction have signed a financing agreement of €151 million for the rehabilitation and safety improvements of 900km of existing primary, secondary and tertiary roads in Lebanon. 

The project will benefit from a €1.8 million grant under the Economic Resilience Initiative trust Fund (ERIF) to support CDR in the implementation of the proposed project.

The bank’s financing, which is covered by the EU Guarantee under the ELM 2014-2020, covers 36% of the overall project cost. The project is co-financed with the World Bank.