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    Food Africa and pacprocess MEA attract over 25,000 trade visitors to the trade fair duo in Egypt

    Pacts worth over OMR 33 million signed to establish agricultural, fisheries projects

    Pacts worth over OMR 33 million signed to establish agricultural, fisheries projects

    Egypt’s food industries contribute 24.5% of GDP

    Egypt’s food industries contribute 24.5% of GDP

    $36mln contract for construction of Duqm fisheries complex

    $36mln contract for construction of Duqm fisheries complex

    Ministry signs agreement to support Oman’s honey industry

    Ministry signs agreement to support Oman’s honey industry

    Local, Italian companies partner up to establish food retail chain in Egypt

    Local, Italian companies partner up to establish food retail chain in Egypt

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      Food Africa and pacprocess MEA attract over 25,000 trade visitors to the trade fair duo in Egypt

      Egypt’s food industries contribute 24.5% of GDP

      Egypt’s food industries contribute 24.5% of GDP

      Profits at top Saudi banks jump 17.6% in Q1

      Profits at top Saudi banks jump 17.6% in Q1

      GCC can create 600,000 tech jobs and add US$255 billion to GDP by 2030

      GCC can create 600,000 tech jobs and add US$255 billion to GDP by 2030

      What will Qatar do with its World Cup infrastructure after FIFA 2022 ends?

      What will Qatar do with its World Cup infrastructure after FIFA 2022 ends?

      New study reveals that UAE is most competitive economy in the Arab world

      New study reveals that UAE is most competitive economy in the Arab world

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      • CES 2017
      • Election Results
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      Oman Construction Equipment Industry to 2028

      Oman Construction Equipment Industry to 2028

      $36mln contract for construction of Duqm fisheries complex

      $36mln contract for construction of Duqm fisheries complex

      What will Qatar do with its World Cup infrastructure after FIFA 2022 ends?

      What will Qatar do with its World Cup infrastructure after FIFA 2022 ends?

      Madayn working on major Oman industrial city projects

      Madayn working on major Oman industrial city projects

      Foundation stone laid for new 700-bed hospital is Salalah, Oman

      Foundation stone laid for new 700-bed hospital is Salalah, Oman

      Iraq set to award new Faw Port deals

      Iraq set to award new Faw Port deals

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        Suez Canal expects US$3.5 billion in revenues in H1

        Suez Canal expects US$3.5 billion in revenues in H1

        UAE and Egypt’s consortium to buy African renewables firm Lekela Power

        UAE and Egypt’s consortium to buy African renewables firm Lekela Power

        Fitch revises Saudi Aramco’s outlook to positive from stable

        Fitch revises Saudi Aramco’s outlook to positive from stable

        Investments in renewables in Egypt reach LE6 bn: Official

        Investments in renewables in Egypt reach LE6 bn: Official

        Egypt signs 8 gas exploration contracts worth $934mn over 15 months

        Egypt signs 8 gas exploration contracts worth $934mn over 15 months

        JGC lands $3.7bn Iraq refinery upgradation project deal

        JGC lands $3.7bn Iraq refinery upgradation project deal

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        • Hospitality

          Food Africa and pacprocess MEA attract over 25,000 trade visitors to the trade fair duo in Egypt

          Qatar has ‘solid’ line-up of infrastructure, hospitality projects to prepare for large influx of visitors in 2022: OBG

          Qatar has ‘solid’ line-up of infrastructure, hospitality projects to prepare for large influx of visitors in 2022: OBG

          Saudi to be among world’s big leisure tourism hubs by 2030

          Saudi to be among world’s big leisure tourism hubs by 2030

          Qatar’s hospitality sector peaks despite turbulent 2020

          Qatar’s hospitality sector peaks despite turbulent 2020

          Accor inks deal to manage first Swissôtel-branded hotel and residential project in Qatar

          Accor inks deal to manage first Swissôtel-branded hotel and residential project in Qatar

          Staycations to stimulate Qatar’s hospitality sector

          Staycations to stimulate Qatar’s hospitality sector

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        • Agrofood
          • All
          • Agriculture
          • Environment
          • Food

          Food Africa and pacprocess MEA attract over 25,000 trade visitors to the trade fair duo in Egypt

          Pacts worth over OMR 33 million signed to establish agricultural, fisheries projects

          Pacts worth over OMR 33 million signed to establish agricultural, fisheries projects

          Egypt’s food industries contribute 24.5% of GDP

          Egypt’s food industries contribute 24.5% of GDP

          $36mln contract for construction of Duqm fisheries complex

          $36mln contract for construction of Duqm fisheries complex

          Ministry signs agreement to support Oman’s honey industry

          Ministry signs agreement to support Oman’s honey industry

          Local, Italian companies partner up to establish food retail chain in Egypt

          Local, Italian companies partner up to establish food retail chain in Egypt

          Trending Tags

          • Business & Economy
            • All
            • Business
            • Economy
            • Finance
            • Industry
            • Technology
            • Trade
            • Transport & Logistics

            Food Africa and pacprocess MEA attract over 25,000 trade visitors to the trade fair duo in Egypt

            Egypt’s food industries contribute 24.5% of GDP

            Egypt’s food industries contribute 24.5% of GDP

            Profits at top Saudi banks jump 17.6% in Q1

            Profits at top Saudi banks jump 17.6% in Q1

            GCC can create 600,000 tech jobs and add US$255 billion to GDP by 2030

            GCC can create 600,000 tech jobs and add US$255 billion to GDP by 2030

            What will Qatar do with its World Cup infrastructure after FIFA 2022 ends?

            What will Qatar do with its World Cup infrastructure after FIFA 2022 ends?

            New study reveals that UAE is most competitive economy in the Arab world

            New study reveals that UAE is most competitive economy in the Arab world

            Trending Tags

            • CES 2017
            • Election Results
            • eSports
          • Construction
            • All
            • Infrastructure
            • Real Estate
            Oman Construction Equipment Industry to 2028

            Oman Construction Equipment Industry to 2028

            $36mln contract for construction of Duqm fisheries complex

            $36mln contract for construction of Duqm fisheries complex

            What will Qatar do with its World Cup infrastructure after FIFA 2022 ends?

            What will Qatar do with its World Cup infrastructure after FIFA 2022 ends?

            Madayn working on major Oman industrial city projects

            Madayn working on major Oman industrial city projects

            Foundation stone laid for new 700-bed hospital is Salalah, Oman

            Foundation stone laid for new 700-bed hospital is Salalah, Oman

            Iraq set to award new Faw Port deals

            Iraq set to award new Faw Port deals

            Trending Tags

            • Energy
              • All
              • Oil & Gas
              • Power & Electricity
              • Renewable Energy
              Suez Canal expects US$3.5 billion in revenues in H1

              Suez Canal expects US$3.5 billion in revenues in H1

              UAE and Egypt’s consortium to buy African renewables firm Lekela Power

              UAE and Egypt’s consortium to buy African renewables firm Lekela Power

              Fitch revises Saudi Aramco’s outlook to positive from stable

              Fitch revises Saudi Aramco’s outlook to positive from stable

              Investments in renewables in Egypt reach LE6 bn: Official

              Investments in renewables in Egypt reach LE6 bn: Official

              Egypt signs 8 gas exploration contracts worth $934mn over 15 months

              Egypt signs 8 gas exploration contracts worth $934mn over 15 months

              JGC lands $3.7bn Iraq refinery upgradation project deal

              JGC lands $3.7bn Iraq refinery upgradation project deal

              Trending Tags

              • Hospitality

                Food Africa and pacprocess MEA attract over 25,000 trade visitors to the trade fair duo in Egypt

                Qatar has ‘solid’ line-up of infrastructure, hospitality projects to prepare for large influx of visitors in 2022: OBG

                Qatar has ‘solid’ line-up of infrastructure, hospitality projects to prepare for large influx of visitors in 2022: OBG

                Saudi to be among world’s big leisure tourism hubs by 2030

                Saudi to be among world’s big leisure tourism hubs by 2030

                Qatar’s hospitality sector peaks despite turbulent 2020

                Qatar’s hospitality sector peaks despite turbulent 2020

                Accor inks deal to manage first Swissôtel-branded hotel and residential project in Qatar

                Accor inks deal to manage first Swissôtel-branded hotel and residential project in Qatar

                Staycations to stimulate Qatar’s hospitality sector

                Staycations to stimulate Qatar’s hospitality sector

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              Development bank EBRD to invest $200M in Lebanon in 2019

              The Daily Star

              May 16, 2018
              in Finance
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              The European Bank for Reconstruction and Development intends to invest at least $200 million in Lebanese equities, renewable energy and water resources in 2019, the development bank’s vice president Alain Pilloux said Monday. “We believe that as early as next year we should invest at least $200 million in the country per year. But if we can do more than we surely will do it,” Pilloux told The Daily Star in an exclusive interview.

              “We will invest wherever we can find projects. It can be in the banking sector, such as credit lines, and we can support renewable projects, electricity plans developed by the private sector we may even give loans to the water authorities,” he added.

              During his visit to Lebanon, Pilloux met Lebanese officials and private sector figures to discuss financing potential projects in the country.

              Founded in 1991, EBRD is an international financial institution which makes investments in different sectors and also extends credit lines to commercial banks.

              In May of this year, EBRD acquired a 2.5 percent stake in Bank Audi for nearly $65 million.

              The announcement came after the president of EBRD Sir Suma Chakrabarti signed the agreement with Samir Hanna, chairman and CEO of Bank Audi. Also in May, Fransabank, one of the largest banks in Lebanon, received a $50 million credit line from the EBRD to finance trade activities in Lebanon.

              EBRD plans to open an office in Beirut to study and assess potential projects in Lebanon that the bank may invest in.

              “The purpose of my visit to Lebanon is to understand with my colleagues where we can make a difference quickly.

              “We started operations in September of last year and we had a good start. We have engaged already with a number of banks, particularly Bank Audi and Fransabank.

              “I want to see what is possible to do in Lebanon in the short term. Our aim is to invest in tangible projects such as the energy sector, promoting the development of renewables like wind projects,” Pilloux said.

              EBRD said it also hopes to work closely with Lebanon’s private sector in various fields.

              Pilloux also said that he sees potential in investing in water infrastructure projects in the country.

              “Water is an issue in Lebanon and we would like to see whether we can work with water authorities in order to develop the quality of water.”

              At April’s CEDRE conference, donors pledged over $11 billion in credit lines to rebuild and improve Lebanon’s aging infrastructure, with special emphasis on electricity and water.

              The development bank can contribute to private-public partnerships, Pilloux said, by providing assistance to the private sector, which will ally with the government to rebuild Lebanon’s infrastructure.

              He said that in the first stage EBRD will work closely with Lebanese banks to approach the private sector.

              “They [Lebanese banks] know the country better and especially the private sector. We can bring the additional expertise in particular sectors and we can bring them financial products which they may not have. We can work together to provide a better service for the Lebanese companies,” Pilloux said.

              The EBRD vice president expressed readiness to work closely with the new prime minister once the government is formed following May’s parliamentary elections.

              “The first thing I will do when the new government will be known is actually to return to Lebanon in order to see the prime minister, the president of the republic and speaker of the parliament, minister of finance and minister of energy to discuss with them the priorities,” Pilloux said.

              He said that EBRD is keen to work on projects that are already in the pipeline.

              “We want to select projects in the smartest possible way in order to make a difference. For me what is important is not to talk about the extension of Beirut airport but to support such a move,” Pilloux said.

              Pilloux said that the interest rates charged by his bank are almost identical to other commercial banks.

              “We are a market-based institution. We believe that very low-interest rates will not do any good to the economy and on the contrary damages the economy in the long term, he said.

              “Our interest rates depend on the risk of the projects and the risk of the country. But at the same time, we do not hesitate in order to make things easier for project developers to mobilize sources of funding.”

              Pilloux said there is no limit for the allocations of funds for investments in Lebanon, depending on the needs of the country.

              “The private sector is our main focus but when it can serve the private sector, we don’t hesitate to work with the state,” he added.

              The Daily Star
              16/05/2018

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