Lebanon secures USD250 million World Bank loan for electricity sector reforms

Lebanon has signed a loan agreement worth USD250 million with the World Bank to support critical reforms in its electricity sector. The funding will be utilised to establish a national control centre, enhance accounting and billing systems at the state-run utility Electricity of Lebanon, and develop scalable solar energy farms. The first phase of solar projects under this initiative is expected to generate 150 MW and save around USD40 million annually in fuel costs. This marks the first loan from the International Bank for Reconstruction and Development to Lebanon’s power sector.