Lebanese premier meets Kuwait fund

Lebanese Prime Minister Najib Mikati met today with the Director General of Kuwait Fund for Arab Economic Development Abdul Wahab Al-Bader who is currently visiting Beirut. During the meeting Al-Badr expressed the Fund''s readiness to contribute to the financing of a project for the development and improvement of the electricity sector in Lebanon. He said Mikati will provide the Fund with information about the electricity project, which the Fund will consider seriously with other Arab institutions in order to finance it. The cost of the project is USD 1.2bn of which the Lebanese government will provide USD 600mn and try to get the rest of the amount from foreign aid. The project aims to develop the production plants and distribution networks and diversify energy sources. The Kuwait Fund signed two days ago with Lebanon an implementation contract for Supplying South Lebanon with River Litani water Project Executive Lebanese water supply south of the Litani River, as well as a project to pump water to Rashaya area in south east Lebanon.(QNA) OM