OFID offers $ 2 billion in credit facilities to support the Lebanese banking sector

Media In – Vienna May 1 2018 / WAM /
The OPEC Fund for International Development (OFID) has signed a $ 2 billion loan to support Lebanon’s international trade movement and provide loans to companies involved in international trade and to promote economic development and create jobs.
In an official statement issued today at Ovid headquarters in the capital Vienna, Suleiman Al-Harbash, Director-General of the Fund, welcomed the cooperation with the Lebanese Lebanese Bank and explained that the agreement demonstrates OFID’s commitment to promoting development finance and international trade movement, which he considered necessary for the promotion of the economy and development.
Al-Herbish said that the fund’s financing would improve the access of Lebanese businessmen, entrepreneurs and companies to financing international trade activities and provide stable medium-term financing to help Lebanon create jobs and boost the economy.
The promotion of international trade was vital for Lebanon, one of the countries affected by persistent conflicts in the Middle East