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.
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.