The European Investment Bank (EIB) will sign today agreements for $164-million (euro 121 million) of financing through local banks. Related agreements for this purpose will be concluded with Fransabank, Byblos Bank, First National Bank, and the Euromena III Fund.

The agreement was signed June 11, during the visit of Philippe de Fontaine Vive, Vice-President of the EIB, who will also meet government and private sector's officials. The aim of the visit is to respond to the financing and development needs of the private sector, and especially those of its entrepreneurs.

The First National Bank and  Euromena III Fund are partially financed by the European Union and the Spanish Agency for International Cooperation (AECID).
 

The EIB has devoted since 2002 to this sector alone a little over $725 million to Lebanon.