Subsidized loans discussion ongoing between Abu Dhabi Fund delegation, Banque de L’habitat

BEIRUT — A delegation from the Abu Dhabi Fund for Development, led by the fund’s regional director for Asian countries, Abdullah Al Mansouri, visited the Banque de L’Habitat (BH) – Lebanon’s housing loan institution – on Tuesday, where they met with the institution’s chairman and general manager, Antoine Habib, along with other board members and department heads.

The aim of the meeting was the exchange of views over the development of “joint cooperations” and discussing “the provision of subsidized loans to the BH to help Lebanese citizens acquire or renovate a home,” the institution’s statement said.

This meeting came in the aftermath of President Joseph Aoun’s visit to the UAE on April 30, “where Aoun asked for subsidized housing loans for the bank,” Habib told L’Orient Today.

“Views were aligned and both parties agreed to hold a meeting in Abu Dhabi in the near future to further discuss the matter in all its aspects,” the statement also said.

The BH has already secured several commitments in recent months from Arab partners, including a credit line of 50 million Kuwaiti dinars (163 million dollars) from the Arab Fund for Economic and Social Development. Negotiations are also underway with the Qatar Fund for the provision of 300 million dollars to finance housing loans.

Habib said meetings were also held earlier in May with the World Bank to secure additional funds for the bank.