Parliament approves dam loan

Kuwaiti Fund offers $20 million loan for drinking water project in upper Metn

The government and the Kuwaiti Fund for Arab Economic Development (KFAED) signed a loan agreement for the project of building a dam in the upper Metn area.

The project will be implemented by the Council for Development and Reconstruction (CDR) alongside the Ministry of Energy and Water and the Water Establishment of Beirut and Mount Lebanon.

The agreement grants the government $20 million (KWD5.5 million) at an annual interest of three percent. The loan will be repaid through a total of 40 semi-annual payments, each equivalent to $504,000, distributed over 20 years. The payments start after a grace period of four years.

The total construction period is estimated at three years. The dam will be built on a hill near the town of Hamana and will benefit 35 villages. Its height is 15 meters and it stretches over an area of 1190 meters. The project will provide one million cubic meters of water each year. The project also includes building facilities to collect rainwater and snowmelt and direct it to the dam through 1,500 meters-long pipes. The agreement also includes installing pipes to carry drinking water.