Housing Bank Chairman, Antoine Habib, on Tuesday paid a visit to Caretaker Minister of Finance, Youssef Khalil, at his office in the ministry, accompanied by Housing Bank legal advisor, lawyer Malek Ersalan.
During the meeting, discussions took stock of the bank’s affairs, particularly the Arab loan designated for Housing Bank. This follows the final approval from the “Arab Fund for Economic and Social Development,” based in Kuwait, to secure a loan worth 50 million Kuwaiti dinars, equivalent to USD 165 million.
The disbursement of the loan is scheduled to commence from the fund’s 2024 budget, as the fiscal year in the Gulf region starts on March 31, 2024. This move comes after the Arab Fund approved Housing Bank’s full action plan.
Minister Khalil expressed full support for Housing Bank’s activities, wishing them success in serving individuals with limited and moderate incomes. He praised Housing Bank’s allocation of the Arab loan, considering it “a gesture of hope in these challenging economic and social
conditions.”
The Minister also highlighted that Lebanon’s acquisition of Arab loans amidst the current critical circumstances signifies the confidence it still enjoys from its Arab brothers and Arab financial institutions.
Source: National News Agency – Lebanon