The European Investment Bank (EIB) and the Government of the Republic of Lebanon agreed the terms for a € 74 million loan to the Greater Tripoli Basin Wastewater Networks project, targeting the extension of wastewater networks in Tripoli and surrounding areas. The financing will be signed shortly following Lebanese Council of Ministers approval.

As a tangible example of EIB capacity to deliver highly concessional financing packages for projects of high impact, the EIB loan will be complemented by a € 18.3 million investment grant from the ERI Trust Fund (funded by Italy, Poland, UK, Slovakia, Slovenia, Lithuania, Luxembourg, Croatia) and a € 4 million technical assistance grant to support project implementation, both of them also to be signed shortly.

“This project is an excellent example of EIB and donors joining forces to support Lebanon’s resilience and economic growth. It will have substantial environmental, economic and social benefits by improving sanitation infrastructure. Also it will contribute to regional development in Tripoli, Lebanon’s second largest city and the main urban centre in the Northern Governorate”, said Dario Scannapieco Vice President of the European Investment Bank.

The Bank’s financing, which is covered by the EU Guarantee under the ELM 2014-2020, covers 69% of the overall project cost.The EIB has been a long-term partner of Lebanon since it started its activities in the country in the 1970s and has local presence in Beirut since January 2019, as a sign of further support to the country.

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