FAYYAD SAYS “LEBANON WAS ABOUT TO ENTER FINAL NEGOTIATIONS WITH WORLD BANK TO OBTAIN $300 MILLION TO FINANCE SYRIA-LEBANON ELECTRICITY POWER LINK, BUT TERMS WERE MODIFIED”
Minister of Energy and Water, Dr. Walid Fayyad, said during the works of the first “Investment Conference in the Electricity Sector & Renewable Energies” in Syria: “We were about to enter the final formal negotiations stage with the World Bank to obtain an amount of 300 million dollars to finance the electricity link project between Syria and Lebanon over a period of two years, in parallel with the completion of contracts to extract gas which are almost ready.”
However, he indicated that the World Bank has amended its conditions, requesting the complete finalization of contracts in order to enter into financial negotiations.
“The contracts with the Syrian Minister of Oil and Mineral Resources, Bassam Tohme, will be finalized, to be sent to the international community, the World Bank and the US Administration, to inform them that they are ready and awaiting financing,” Fayyad concluded.
Source: National News Agencyhttps://syrianewsgazette.com/fayyad-says-lebanon-was-about-to-enter-final-negotiations-with-world-bank-to-obtain-300-million-to-finance-syria-lebanon-electricity-power-link-but-terms-were-modified/Government