$200M for road upgrades in Lebanon

Lebanon

Feb 10, 2017 – The World Bank Group has allotted $200M in funding for repairs to Lebanon’s road network.

The allotted fund will be used to upgrade about 500km of roads in phase one of a broader government strategy that aims to overhaul the country’s crumbling road industry.

The first phase will focus on the rehabilitation and maintenance of existing road networks, the improvement of road safety systems, the purchase of equipment for emergency roadworks, and in the capacity building to improve management and efficiency in the sector.

Work will involve a survey of up to 6,000km of primary, secondary, and tertiary roads in all regions of the country to identify those who are most in need of rehabilitation.

The package’s non-grant loan element is valued at $155M. This portion can be repaid over 32 1/2 years, and includes a seven-year grace period.

World Bank director for the Middle East Ferid Belhaj said: “This is to help Lebanon continue to offer basic services both to its citizens and to Syrian refugees in the country. By hosting refugees, Lebanon is offering the international community a global public good. International financial support needs to increase to match its generosity.”

Source:- http://www.worldconstructionnetwork.com/news/200m-for-road-upgrades-in-lebanon

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