News
Latest News
news bulletin
Breaking Headlines
Lebanon News
Press Highlights
World
Lebanon Economy
News Bulletin Reports
Variety
Middle East
Sports
Other News
Breaking Headlines
Lebanon News
Press Highlights
World
Lebanon Economy
News Bulletin Reports
Variety
Middle East
Sports
Beirut
13
o
Mount Lebanon
11
o
Metn
13
o
Keserwan
13
o
North
14
o
South
13
o
Bekaa
4
o
Live
Video
Audio
Schedule
shows
العربية
watching now
Thawrat AlFalahin
SUBSCRIBE
Home
Notification
Live
Video
Audio
shows
Beirut
13
o
Mount Lebanon
11
o
Metn
13
o
Keserwan
13
o
North
14
o
South
13
o
Bekaa
4
o
News
Programs
The News
Breaking Headlines
Lebanon News
Press Highlights
World
Lebanon Economy
News Bulletin Reports
Variety
Middle East
Sports
Programs
Series
Talk Show
News Bulletin
Oldies
Variety
Comedy
Other
Sports
Documentaries
The Untold History
New Year Shows
Lebanon’s Centennial
Breaking News
Latest News
Highlighted News
Most Read
Videos
العربية
Watch the latest programs and the latest developments on your favorite screen
Shows
Join millions of followers
Who We Are
Contact Us
Advertise With Us
Careers
Channel frequencies
Privacy Policy
Terms and Conditions
Stalled communications between WB, MoE regarding $250 million energy import project
News Bulletin Reports
2023-03-15 | 09:30
High views
Share
Share
2
min
Stalled communications between WB, MoE regarding $250 million energy import project
Since last summer, written correspondence between the World Bank and the Ministry of Energy regarding the financing of gas and electricity imports from Egypt and Jordan at a cost of $250 million per year has come to a halt.
Sources within the Ministry of Energy stated that the project is nearly frozen after the World Bank insisted on the full implementation of financial auditing conditions in Lebanon's electricity sector. This includes appointing a regulatory body, ensuring its operation, and verifying financial sustainability in Lebanon's electricity sector without incurring losses.
The World Bank reportedly informed the Ministry of Energy, as well as American and French parties interested in the matter, of its stance. The message questioned why, if these parties are pressuring the World Bank to fund the project now, they are not providing the funding themselves.
Despite this atmosphere, the Ministry of Energy continues to work on meeting the World Bank's conditions. In regard to financial auditing in Lebanon's electricity sector, a company was recently approved, receiving a classification letter from the Ministry of Finance. The company is expected to begin work at a cost of $150,000, which will be paid by Lebanon's electricity company from its own funds.
Regarding the regulatory body, the extended deadline for submitting applications is set to expire by the end of this month. Approximately 40 people have applied, a relatively small number compared to the 300 individuals who applied for membership on the electricity board. The question now is whether the Ministry of Energy will be satisfied with the 40 applicants or extend the nomination deadline again.
On the subject of financial sustainability, sources within the Ministry of Energy confirmed that the ongoing emergency electricity plan contributes to achieving financial balance in the electricity sector, provided that the necessary success factors are in place. These factors are related to the Central Bank of Lebanon and the political authority, which are both currently suffering from tension and disintegration. If the situation remains unchanged, the import issue could become a matter of addressing unnecessary requirements.
News Bulletin Reports
EDL
Cable Lines
Electricity
Lebanon
Funds
Energy
Requirements
Egypt
Jordan
Next
Governor of Lebanon's Central Bank submits clarifying memo regarding his absence from court session
ATFL delegation urges for political reform in Lebanon
Previous
Related Articles
d-none hideMe
0
Lebanon News
2023-03-29
Jordan to provide Lebanon with electricity as soon as it reaches agreement with World Bank
Lebanon News
2023-03-29
Jordan to provide Lebanon with electricity as soon as it reaches agreement with World Bank
0
News Bulletin Reports
2023-02-03
Duquesne will put effort in file of importing Egyptian gas, Jordanian energy
News Bulletin Reports
2023-02-03
Duquesne will put effort in file of importing Egyptian gas, Jordanian energy
0
Press Highlights
2023-01-31
Is the US obstructing imports of Egyptian gas, Jordanian electricity?
Press Highlights
2023-01-31
Is the US obstructing imports of Egyptian gas, Jordanian electricity?
0
Variety
2023-03-20
Jordan-based company to start producing "Made in Lebanon" electronic devices following agreement with Lebanese University
Variety
2023-03-20
Jordan-based company to start producing "Made in Lebanon" electronic devices following agreement with Lebanese University
Recommended For You
d-none hideMe
0
Lebanon Economy
11:06
Syrian refugees crisis: A demographic and economic time bomb
Lebanon Economy
11:06
Syrian refugees crisis: A demographic and economic time bomb
0
News Bulletin Reports
10:19
Lebanon's path to reconciliation: Learning from apartheid and slavery
News Bulletin Reports
10:19
Lebanon's path to reconciliation: Learning from apartheid and slavery
0
News Bulletin Reports
10:10
Lebanon struggles to keep up with AI and internet advancements
News Bulletin Reports
10:10
Lebanon struggles to keep up with AI and internet advancements
0
News Bulletin Reports
09:53
The future of medicine: How artificial intelligence is transforming diagnosis and treatment
News Bulletin Reports
09:53
The future of medicine: How artificial intelligence is transforming diagnosis and treatment
Subscribe to our VOD
SUBSCRIBE
Our visitors readings
d-none hideMe
0
Middle East
2023-03-29
Syria port authority shuts all ports due to bad weather
Middle East
2023-03-29
Syria port authority shuts all ports due to bad weather
0
Lebanon News
2023-03-16
Salameh attends hearing session with French and European delegations
Lebanon News
2023-03-16
Salameh attends hearing session with French and European delegations
0
Lebanon Economy
11:06
Syrian refugees crisis: A demographic and economic time bomb
Lebanon Economy
11:06
Syrian refugees crisis: A demographic and economic time bomb
0
Variety
2023-02-23
European Commission orders staff to remove TikTok from work devices
Variety
2023-02-23
European Commission orders staff to remove TikTok from work devices
Videos
d-none hideMe
0
Variety
2023-03-16
BAM Leb mobile app launched to revolutionize Lebanon's tourism, culture experience
Variety
2023-03-16
BAM Leb mobile app launched to revolutionize Lebanon's tourism, culture experience
0
News Bulletin Reports
2023-02-02
US must think long before granting Lebanon Caesar Act waiver: Congressman
News Bulletin Reports
2023-02-02
US must think long before granting Lebanon Caesar Act waiver: Congressman
0
Lebanon News
2023-01-25
Beirut blast investigations: The latest
Lebanon News
2023-01-25
Beirut blast investigations: The latest
0
Lebanon News
2023-01-23
Here is what preliminary investigations reveal after grenade attack on LBCI
Lebanon News
2023-01-23
Here is what preliminary investigations reveal after grenade attack on LBCI
0
Lebanon News
2023-01-19
Khalaf, Saliba start open-ended stay inside parliament until president is elected
Lebanon News
2023-01-19
Khalaf, Saliba start open-ended stay inside parliament until president is elected
0
News Bulletin Reports
2022-12-23
Lebanon lacks leaders with geopolitical vision: Naufal Daou
News Bulletin Reports
2022-12-23
Lebanon lacks leaders with geopolitical vision: Naufal Daou
0
News Bulletin Reports
2022-12-07
FPM likely to ditch white ballots following disagreement with Hezbollah
News Bulletin Reports
2022-12-07
FPM likely to ditch white ballots following disagreement with Hezbollah
0
Lebanon News
2022-12-07
Bassil sparks debate on long-awaited decentralization reform
Lebanon News
2022-12-07
Bassil sparks debate on long-awaited decentralization reform
0
Lebanon Economy
2022-12-07
Israel has recruited hundreds of spies, making use of Lebanon's collapse
Lebanon Economy
2022-12-07
Israel has recruited hundreds of spies, making use of Lebanon's collapse
Most read
d-none hideMe
24 hours
7 days
Month
1
Lebanon Economy
11:06
Syrian refugees crisis: A demographic and economic time bomb
Lebanon Economy
11:06
Syrian refugees crisis: A demographic and economic time bomb
2
Lebanon News
05:46
Famine threatens thousands of prisoners in Lebanon: report
Lebanon News
05:46
Famine threatens thousands of prisoners in Lebanon: report
3
Variety
08:18
Lebanese woman climbs summit closest to the sun
Variety
08:18
Lebanese woman climbs summit closest to the sun
4
News Bulletin Reports
10:19
Lebanon's path to reconciliation: Learning from apartheid and slavery
News Bulletin Reports
10:19
Lebanon's path to reconciliation: Learning from apartheid and slavery
5
News Bulletin Reports
10:10
Lebanon struggles to keep up with AI and internet advancements
News Bulletin Reports
10:10
Lebanon struggles to keep up with AI and internet advancements
6
Lebanon News
06:14
MP Moneimneh to LBCI: We will reject any settlement that comes at expense of Lebanese
Lebanon News
06:14
MP Moneimneh to LBCI: We will reject any settlement that comes at expense of Lebanese
7
Lebanon News
10:54
CMA CGM wins bid to manage the Lebanese postal service
Lebanon News
10:54
CMA CGM wins bid to manage the Lebanese postal service
8
Lebanon Economy
05:36
Price of gasoline increases 15000 LBP
Lebanon Economy
05:36
Price of gasoline increases 15000 LBP
Download now the LBCI mobile app
To see the latest news, the latest daily programs in Lebanon and the world
Google Play
App Store