Lebanon signs $150M IFC deals to boost economy

Lebanon signed five agreements yesterday with the International Finance Corporation (IFC), marking one of the first concrete economic steps following the “Beirut One” conference. The signing ceremony took place at the Grand Serail under the patronage of Prime Minister Najib Mikati, with IFC’s Regional Director for the Middle East, Khawaja Aftab Ahmed, representing the institution.

Four of the agreements are direct investments targeting microfinance, SMEs, and the industrial sector. The fifth is an advisory agreement with the Ministry of Energy.

Key signings included:

- Public-Private Partnership (PPP) Support: Signed by Aftab Ahmed and Secretary-General of the Council of Ministers Mahmoud Makieh to advance Lebanon’s PPP pipeline.

- Entrepreneurship & SME Support: Signed by IFC’s Momina Ijazuddin and Ziad Halabi, focused on supporting small businesses and community initiatives.

- Community and Development Projects: Signed by Yousef Fawaz for the Lebanese side.

- Chemical Sector Investment: Two agreements supporting regional chemical manufacturing, signed with Ihsan Baalbaki and Sami Saghir.

At a joint press conference, Minister of Economy and Trade Amer Bassat and Aftab Ahmed outlined the scale of IFC’s commitments:

- $80M for microfinance, targeting underserved borrowers and small-scale economic activity.

- $30M direct investment in Matalek, a Lebanese manufacturer of electrical equipment for international export.

- $40M direct investment in Medco, a regional chemical producer operating in Lebanon and exporting abroad.

- Advisory agreement with the Ministry of Energy for the Deir Ammar gas-to-power project, aimed at evaluating investment potential and structuring the next phase with IFC’s technical support.

These agreements come immediately after the “Beirut One” conference, signaling early follow-through on economic commitments and a push to revive Lebanon’s private sector through external financing and institutional partnerships. The deals span microfinance, industrial revitalization, PPP development, and energy planning, four sectors seen as essential to rebuilding investor confidence and setting the groundwork for longer-term economic recovery.