(MENAFN) The Lebanese Public Corporation for Housing (PCH) declared July 9 as the date for the end of accepting applications for housing loans.
The announced has been made by director general of the PCH Rony Lahoud, cited by National News Agency.
The director general said "commercial banks are facing difficulties in approving all applications for housing loans even if they meet all conditions imposed by the agreement protocol between the central bank and PCH."
The Central Bank of Lebanon regularly funds the housing loans through PCH and the Housing Bank.
It presented commercial banks with a USD500 million fund in February as an investment for subsidized housing loans that Lebanese citizens would use to purchase apartments.