News Column

BRIEF: Eco-friendly projects to beef up national income: Salameh

July 2, 2014

The Daily Star, Beirut, Lebanon

July 02--BEIRUT -- Central Bank Governor Riad Salameh Tuesday said his organization was seeking to boost the underdeveloped environment sector in Lebanon by encouraging the design of new banking programs for funding eco-friendly projects.

"Developing the environment sector helps create jobs and constitutes a source of national income estimated at 2 to 3 percent of GNP, in addition to having an indirect impact on various economic sectors, especially tourism," Salameh said at the launch of the "Green Roof" project for beautifying Lebanese villages.

Salameh highlighted that the creation and preservation of green surfaces in Lebanese villages would further attract visitors and tourists and consequently secure work opportunities in the villages, limiting as such migration from the countryside.

"The Central Bank is encouraging Lebanese banks to grant loans to eco-friendly projects such as construction projects according to environment friendly specifications," he said, noting that loans worth more than $100 million are currently disbursed by Lebanese banks for such projects.


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Source: Daily Star, The (Beirut, Lebanon)

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