Lebanons Banque de lhabitat planning on issuing new package loans

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The Chairman of the Board of Directors and General Manager of the Banque de l'habitat, Antoine Habib, revealed in a statement about new loan packages that the bank is working on launching in cooperation with international institutions.

Habib announced an initiative by the United States Agency for International Development (USAID) to finance loans. It asked the Housing Bank to enter into a project that grants loans to treat wastewater for homes in rural areas to stabilize citizens in their villages.

A memorandum of understanding will be signed between the US Agency and the Housing Bank at the end of March.

The statement added that Banque de l'habitat is working on launching new loans for solar energy, stating that a German bank contacted them through the German Ambassador to Lebanon and offered to cooperate in joint solar energy projects, which the Housing Bank will grant solar loans of up to $5,000 each, granting 5KVA, over five years at 5% interest."

Habib added that the French company Total Energy has also contacted Banque de l'habitat and expressed its desire to help the Lebanese by financing solar energy projects.

"All these projects are in the process of study, and we are working on developing them, leading to the signing of memorandums of understanding with international institutions. Once they are completed, we will start opening the door for new loans," the statement expressed.

He continued that the institution is also preparing to launch loans that may be the first for people with special needs, which are facilities aimed at equipping their homes and work centers.

In the statement, Antoine Habib highlighted that the loans launched by the Housing Bank last June related to the purchase of residential houses or for restoration are still available, warning that the devaluation of the Lebanese lira made the value of these loans decrease.

"The Housing Bank hopes to obtain an Arab Fund of KWD 50 million (USD 165 million). Under it, it will re-grant new housing loans," he added.

He concluded that they are in the process of preparing a visit to the Arab Fund in Kuwait through a delegation headed by the Caretaker Minister of Economy Amin Salam and the participation of the President of the Council for Development and Reconstruction, Eng. Nabil Al-Jisr, to meet with the Minister of Foreign Affairs of Kuwait, Salem Abdullah Al-Jaber Al-Sabah, to re-liquidate the Arab loan granted to the Housing Bank.