The General Director of the Housing Bank, Antoine Habib, confirmed that "perseverance, determination, and strong arguments all contributed to securing approval for the rescheduling of the loan signed between the Arab Fund and the Housing Bank, changing the loan currency from Lebanese pounds to US dollars, with a loan amount of $50,000 for middle-income individuals and $40,000 for low-income individuals, to be disbursed in three installments."
He indicated in a statement that "this loan will serve as the starting point for obtaining financing from the Arab Fund and other Arab funds," wishing for "other banks to follow the Housing Bank's example to assist the Lebanese people and help Lebanon regain its health."
Habib clarified that "approval was obtained through a decree from the Council of Ministers and signing an agreement with the former Governor of the Central Bank of Lebanon, along with the approval of the Legislative and Consultative Authority to change the loan currency, culminating in a letter presented in September to the President of the Arab Fund, Bader Mohammed Al-Saad, awaiting approval to determine the interest rate which will be an average of 6% and the duration of about 20 years, subject to four conditions: the borrower must be Lebanese, not benefit from a subsidized loan, not own another apartment on the land, and the residence should not exceed 150 square meters, with the household income allowing for the deduction of one-third of the value to pay the monthly installment. The loan covers purchases, construction, and renovations."
He announced that "applications will be received electronically via the website www.banque-habitat.com.lb and the hotline 1920."
