Habib confirms that the Arab Fund loan will be paid in 3 stages in US dollars

The Chairman of the Board of Directors and General Manager of the Banque de L'habitat, Antoine Habib, reassured that the liquidation of the Arab Fund loan, which was signed in 2019 and has not been liquidated until today due to the circumstances in Lebanon, will be done in US dollars and not in Lebanese lira.
 
After his meeting with the Caretaker Prime Minister, Najib Mikati, accompanied by member of the Board of Directors Tawfiq Naji, Habib confirmed that the loan still exists and will be paid in three stages.

He added that the loan value that will be given to borrowers ranges between $40,000 for low-income people and $50,000 for middle-income people.
 
He explained that the Arab Fund for Economic and Social Development loan was confirmed because there are loans related to the financing of some projects in Lebanon that have been canceled or are being considered for cancellation, whether by the Arab Fund or some other funds.
 
Habib pointed out that the Housing Bank paid all the obligations imposed on it in terms of interest and assets, and it never failed to pay, which helped stabilize this loan.
 
Additionally, he announced that there are regulatory frameworks to proceed with this loan and that the Arab Fund is still waiting for answers, adding that there are logistical matters that must be taken, such as obtaining approvals from the concerned authorities: from the Board of Directors, Banque du Liban, the Council for Development and Reconstruction, the Lebanese government and the Ministers of Finance and Social Affairs.