Reconstruction schemes
18 March 2008
The Kuwait Fund for Arab and Economic Development (KFAED) is to spend LBP 454 billion (US$ 300 million) on 30 projects in Lebanon as part of reconstruction efforts following the war with Israel last year.
KFAED has signed 11 financing pacts with the Lebanese government in the initial phase of the agreement, which will see around US$ 46 million put towards social and economic projects around the country in areas including Beirut, South Lebanon, Baalbek and Akkar. the projects will be put to tender within the next few months, and only local contractors and consultants will be selected for the work in an effort to bolster employment in the country.
The work will include construction of 13 hospitals and medical centres, 12 water wells located in areas of water scarcity or contamination, and the improvement of the electricity network in Akkar, north Lebanon. KFAED will manage the projects from its office in Beirut. they are expected to take around four years to complete.
