In a meeting with Finance Minister Yassine Jaber, the parliamentary Finance Committee approved two bills on Tuesday, taking them a step closer to their final vote in Parliament.  The first concerns a $250 million loan granted by the International Bank for Reconstruction and Development (IBRD, affiliated with the World Bank), intended to support the reform of the electricity sector in Lebanon by financing projects to rehabilitate the network, partially destroyed by the recent conflict, as well as the development of renewable energies.  The second project reduces certain taxes planned in the 2025 budget, adopted by decree by Nawaf Salam's government shortly after its formation at the beginning of the year, in accordance with a commitment made by the executive at that time. The new taxes imposed on alcoholic beverages should notably be lowered.    The Finance Minister expressed his satisfaction after the adoption of these two texts, recalling that the loan agreement was concluded last April during the official Lebanese delegation's visit to Washington to participate in the spring meetings of the World Bank and the International Monetary Fund. According to the minister, this bill will be examined on Wednesday by the parliamentary Foreign Affairs committee, theoretically the last step before it is submitted to the full Assembly.  Finance Committee's chairman Ibrahim Kanaan specified that this loan extends over a period of 30 years, with an 8-year grace period. "The project aims to develop solar power production up to 250 megawatts, increase overall electrical production capacity, rehabilitate three hydroelectric power plants, and improve the operational efficiency of the network," he added, describing the project as "necessary and beneficial in the current circumstances."  "A general discussion session will soon be organized with the Finance and Energy ministers to review the implementation modalities, which will then be monitored by Parliament after its adoption," he noted further.  The secretary of the Lebanese committee of the World Energy Council and former director of the Lebanese Center for Energy Conservation (LCEC, attached to the Ministry of Energy), also contacted, specified that the referred 250 MW of photovoltaic energy, which will be managed by the public provider Electricite du Liban, corresponds to the installed capacity, which implies lower effective production, dependent on sunlight.  He added that between 1,200 and 1,400 MW of photovoltaic capacity are deployed in Lebanon, a still imprecise figure pending the final assessment of the installations destroyed by bombings.  "The fact that the IBRD has granted this loan is good news, as Lebanon needs these funds. However, it is necessary that the next such initiatives are more oriented towards developing privately managed installations, especially given that the World Bank encourages the gradual privatization of the sector," he further commented. (ICE BEIRUT)

Fonte notizia: L'Orient Today