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)
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. According to the bank's Head of Operations in Lebanon, Gretchen Biery, these should include renewable energy, agribusiness, infrastructure and municipal projects, as well as industrial zones or green economy investments. The confirmation comes after the country formed a new government following nine-month long negotiations.