Housing Bank In Lebanon Unable To Process Loans Due To Strikes

Lebanon's Housing Bank Will Now Issue Soft Loans To Help Rebuild Beirut
Marwan Naamani/Polaris

Caretaker Prime Minister Najib Mikati hosted at the Grand Serail the General Manager of the Housing Bank, Antoine Habib, and member of the Board of Directors Tawfiq Naji.

After the meeting, Habib made a statement in which he said that the prime minister informed them that thousands of loan applications have been submitted by citizens on the website of the Housing Bank.

Habib explained that “the only obstacle currently facing borrowers is their inability to include the legal identification papers for their requests due to the strike of the governmental employees.”

He noted that this constitutes a major obstacle to granting loans with the required speed, as it is not possible to complete the application without these official documents.

“We are waiting for public sector employees to return to their jobs, and we hope to revive the concessional loan agreement with the Arab Fund for Economic and Social Development in Kuwait to obtain financing,” he added.

According to him, the government decided to pay its dues to the funds, and PM Mikati assured them that he will give instructions on the same day for these amounts to be paid to the Central Bank for the latter to process them to the Arab Fund for Economic and Social Development in Kuwait.

He also pointed out that all loans granted by the Housing Bank are directed exclusively to Lebanese.

“We found it useful to clarify this matter, as a good number of non-Lebanese individuals have tried to submit applications through the online platform,” he noted.

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Housing Bank In Lebanon Unable To Process Loans Due To Strikes

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