Central Bank of Lebanon to fund industrial sector

Lebanese industry minister held a meeting Tuesday with Head of Central Bank of Lebanon Lebanese industry minister Freij Sapunjaan held a meeting Tuesday with Head of Central Bank of Lebanon Riad Samaleh which aimed at finding solutions to support and promote the industrial sector in Lebanon.
Salameh said after after the meeting that “the Central Bank wants to support industrial projects. It is important to develop the Lebanese industry. We are focusing on creating new jobs for this sector, which will improve the country’s economy. This sector has a lot to offer for the country”.
When it comes to the financial situation of his bank, Salameh said: “We follow basic indicators. We sell dollars and buy Lebanese pounds. Our interest rates are stable, and savings have gone up from 7 to 8 percent. These three factors show that people trust the Lebanese banking sector and the country’s financial state.”
Minister Sapunjaan said: “This meeting concludes a series of discussions about economic and industrial issues. The main question was to find out how to secure the most profitable investment that would support the Lebanese industrial sector. Riad Salameh and I agree on the way to deal with these issues. This meeting is above all about serving people working in the industrial sector."
He went on to say that the Central Bank of Lebanon will supply loans to the industrial sector with the interests paid by sponsors.
“We know that in a difficult financial situation it is crucial to support the industrial sector. This is a basic element to ensure the strength of our economy,” added Sapunjaan.