Lebanon increases Housing Bank capital from LBP 100 billion to LBP 150 billion

Lebanon's Cabinet has approved a capital increase for the Housing Bank, raising its capital from LBP 100 billion to LBP 150 billion, the bank's chairman, Antoine Habib, announced.

Habib described the decision as a "significant step reflecting hope for the younger generation seeking opportunities to buy or renovate homes" amid a scarcity of commercial bank loans. He said the move aims to meet the housing needs of a broader segment of Lebanese citizens, including those with low and middle incomes and people with disabilities.

In a statement, Habib praised the government's support, calling it a "strong vote of confidence" in the Housing Bank and its achievements over the past few years.

He expressed gratitude to President Joseph Aoun, Prime Minister Nawaf Salam, Finance Minister Yassin Jaber, and Social Affairs Minister Haneen Sayed, noting their roles in facilitating the issuance of the decree. The measure, he said, ensures the sustainability of housing loans and the continuation of the bank's projects despite Lebanon's ongoing social and economic crisis.