NNA - Housing Bank General Director, Antoine Habib, on Tuesday said in a statement that "the bank will re-extend the deadline for submitting applications to benefit from housing and solar energy loans until September 30, 2022.”

Moreover, Habib did not rule out modifying loan sums in the event that additional loans are received from Arab funds.

“Seven commercial banks have resumed granting housing and solar energy loans,” Habib added, disclosing joint efforts by the Lebanese government and former Kuwaiti Ambassador, Abdel-Al Al-Qena'i, to get the Arab Fund to transfer 50 million Kuwaiti dinars to the Lebanese Central Bank, in addition to the loan that was inked three years ago.

“The loan contract is in Lebanese pounds, and it is impossible for the loan currency to be converted from LBP to US dollars,” affirmed Habib, explaining that the Arab Fund's loan will be transferred in Kuwaiti Dinars to the Lebanese Central Bank, which in turn will transfer the loan to the Housing Bank in Lebanese pounds.

Habib finally revealed that the management of the Housing Bank has decided to grant borrowers loans 30% in cash. 

===========R.H.