Arab Fund: New Opportunity To Resume Development In Lebanon

(MENAFN- Kuwait News Agency (KUNA)) By Ayoub Khaddaj
BEIRUT, May 8 (KUNA) -- Director General and Chairman of the Arab Fund for Economic and Social Development (AFESD) Bader Al-Saad on Thursday stated that Lebanon's new government and improved stability provide a chance to resume development projects.
Following a meeting with Lebanese Energy and Water Minister Joseph Saddi, Al-Saad told KUNA the Arab Fund is assessing Lebanon's infrastructure needs, especially in water and electricity. While it plans to complete existing projects, it also awaits new priority proposals from the government.
He announced a streamlined approach where the Arab Fund will conduct feasibility studies and provide financing directly - cutting delays caused by previous procedures requiring preliminary studies from borrowing countries.
Al-Saad stressed Lebanon's urgent need for development following years of conflict and economic crisis and expressed confidence that other Arab and international donors would also return.
Meanwhile, Al-Saddi commended the Arab Fund's quick response and support, noting priority projects include upgrading the power transmission network and wastewater treatment.
On his side, Dr. Merza Hasan, senior advisor at the Arab Fund, said Lebanon is entering a new phase with capable leadership and clear priorities.
He emphasized the Fund's speed and cost-efficiency compared to other donors and outlined its new model: conducting studies, securing funding, and delivering completed projects to the state.
Given Lebanon's financial constraints, Hasan said the Arab Fund aims to attract private investors by providing feasibility studies and mitigating risks.
During its visit, the delegation met with several ministers and the central bank governor.
The Fund has previously supported major infrastructure, education, and social projects in Lebanon, including the Litani River project and Lebanese University campus.
Headquartered in Kuwait, the Arab Fund supports regional development through public and private investments, grants, and expertise. (end)
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