Mikati Instructs Payment of Abu Dhabi Development Fund Dues

Today, Tuesday, the caretaker Prime Minister Najib Mikati met at the Grand Serail with the Chairman and General Manager of the Housing Bank, Antoine Habib. He expressed thanks for the Cabinet's recent decision to authorize the Council for Development and Reconstruction to negotiate with the Abu Dhabi Development Fund to obtain a concessional loan for the Housing Bank. Habib praised Prime Minister Mikati's efforts in this matter, paving the way for the decision to be referred to the Parliament for approval as soon as possible. During the meeting, Habib wished for the Lebanese state to expedite the payment of dues to the Abu Dhabi Development Fund for previous development loans to Lebanon, which currently total 3 million and 675 thousand UAE dirhams, approximately one million US dollars. Following this, President Mikati contacted the Ministry of Finance, instructing them to pay the outstanding dues to the Abu Dhabi Development Fund owed by the state. He added that it should also be noted that the Housing Bank had previously obtained a loan from the Abu Dhabi Development Fund worth 30 million dollars in 1993, which was fully repaid along with its interests by 2009. This was an additional factor that encouraged the fund to respond positively to our request for a second loan.