The Kuwait Fund for Arab Economic Development (KFAED) has made a $19m loan to the government of Lebanon to help finance the 2.4-square-kilometre Qaisamani Dam project.
The fund’s loan will cover around 81 per cent of the total cost of the project, which is estimated to be $23.6m. The Lebanese government will finance the remaining $4.6m and is expected to reimburse the loan over a period of 24 years.
The dam will be built near the Hammana Village in the Mount Lebanon mountain chain and will provide a million cubic metres of potable water to inhabitants of 35 surrounding villages.
The main components of the project are the construction an embankment dam, water diversion structures, and a network of pipes and canals to guide rainwater and melting snow toward the dam.
The project will also include the procurement, construction and installation of a water purification plant with a capacity of 12,000 cubic-metres per day.
The Qaisamani Dam loan is the latest in a history of economic assistance from the Fund that has provided Beirut with $559m in loans and technical assistance and an additional $407m in grants from the Kuwaiti government.