Rony Lahoud to LBCI: Analysis of housing loan suspension and its implications

Lebanon Economy
08-02-2024 | 05:53
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Rony Lahoud to LBCI: Analysis of housing loan suspension and its implications
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2min
Rony Lahoud to LBCI: Analysis of housing loan suspension and its implications

Director General of the Public Corporation for Housing Rony Lahoud announced that 65 sectors stopped working due to the suspension of housing loans in 2018.

On LBCI's "Nharkom Said" TV show, Lahoud revealed that the loans from 2000 to 2018 amounted to 83,000.

He pointed out that the loans are in LBP, and so is the repayment. 

He said: "After 2019 and 2020, citizens saw an increase in their income in the national currency and felt capable of repaying the loans. Instead of repaying these loans after 15 years, citizens rushed to repay them."

In addition, he revealed that 55,000 people applied to repay housing loans, 15,000 requests on the platform, and 14,000 have not yet applied to repay.

He said: "So far, we have completed 23,000 files out of 55,000, at a rate of 4,500 to 5,000 requests per year." 

He added: "We still have about 50,000 files, and if we continue at this pace, we will need another ten years to complete the remaining files," noting that they have a staff shortage.

Lebanon News

Lebanon Economy

Rony Lahoud

Housing

Loan

Suspension

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