Executives said demand from Gulf clients had exceeded expectations, prompting plans for a second facility in Tripoli. The programme includes technical assistance from the World Bank and a monitoring framework agreed with donors.
Regional peers have moved faster, and the gap is becoming harder to ignore, one former adviser said. Remittances remain the single largest source of hard currency, accounting for roughly a fifth of national income.
Market reaction
The announcement lifted shares in the sector by as much as four percent in early trading. The figures, published on Tuesday, compare with a contraction of 2.1 percent in the same period a year earlier.
“Capital follows credibility, and credibility is finally being rebuilt.”
The plan sets out three phases, beginning with an audit of balance sheets and ending with a recapitalisation schedule. Regional peers have moved faster, and the gap is becoming harder to ignore, one former adviser said.
The announcement lifted shares in the sector by as much as four percent in early trading. A spokesperson declined to comment on the size of the facility, citing ongoing discussions with creditors.
What happens next
The programme includes technical assistance from the World Bank and a monitoring framework agreed with donors. Remittances remain the single largest source of hard currency, accounting for roughly a fifth of national income.
Officials say the measures could take effect before the end of the quarter, although parliament has yet to schedule a vote. Officials say the measures could take effect before the end of the quarter, although parliament has yet to schedule a vote.
Remittances remain the single largest source of hard currency, accounting for roughly a fifth of national income. Bankers who spoke to Beirut Financial described the mood as cautiously optimistic, with liquidity improving month on month.
