February 1, 2019 / 5:25 PM / 6 months ago

Development bank EBRD confirms 1.1 bln euro support plan for new Lebanon govt

LONDON, Feb 1 (Reuters) - The European Bank for Reconstruction and Development reconfimed a pledge to spend 1.1 billion euros over the next six years in Lebanon on Friday, after the country formed a government after nine months of wrangling.

“At the CEDRE Conference (in Paris in April last year), we forecast a pipeline of 1.1 billion euros ($1.26 billion) over six years for CIP infrastructure projects and other sectors,” Gretchen Biery, the EBRD’s head of Lebanon operations said, welcoming the news of the government’s formation.

“This remains our aim. We see much opportunity in the energy sector, including renewable energy, green economy investments, agribusiness, manufacturing and services, industrial zones, and municipal and infrastructure projects,” Biery said. ($1 = 0.8718 euros) (Reporting by Marc Jones, Editing by William Maclean)

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