The European Bank for Reconstruction and Development (EBRD) has confirmed a €1.1bn ($1.26bn) pipeline will be spent on various projects in Lebanon over the next six years. EBRD President Klaus Regling said that the project would help to diversify Lebanon’s energy supply from its main supplier of natural gas, Russia. 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. The confirmation comes after the country formed a new government following nine-month long negotiations.
The European Bank for Reconstruction and Development (EBRD) has confirmed a €1.1bn ($1.26bn) pipeline will be spent on various projects in Lebanon over the next six years. EBRD President Klaus Regling said that the project would help to diversify Lebanon’s energy supply from its main supplier of natural gas, Russia. The confirmation comes after the country formed a new government following nine-month long negotiations.