“This would reduce the investment cost on the budget,” she said.

The Minister said that the plan still needs approval from the Parliament to become effective.

Speaking at the Ministerial Consultation Conference on the World Bank Initiative- held in Cairo, El Hassan said that Lebanon is in need of new investments in the infrastructure sector.

She said that the government “welcomes financing in this regard from the World Bank and other international organizations.”

The World Bank's vice president for the region, Shamshad Akhtar explained the initiative. She said that it calls for better PPP, and for improving financing provided for medium and small enterprises (SMEs). The program also includes plans for environmental protection including the allocation of a balance of $750 million to finance new power generation through solar energy-projects in the Arab region, Akhtar said.