Tehran to Give $450 Million worth Grant to Lebanon

Local Editor

Prior to the historic visit of Iran's president Mahmoud Ahmadinejad to Beirut, two joint agreements were drafted between Iran and Lebanon in the issues of water and fuel.

This occurred in a joint press conference between Energy Ministers of both countries, Gobran Bassil and Majid Namjo, where the agreements will be signed during President Ahmadinejad's visit.

Minister Namjo, confirming that his visit to Beirut was under the request of President Ahmadinejad, said that Iran will be presenting a $450 Million worth bank fund, through which the Lebanese government could use for development.

Iranian Energy Minister also stressed on his country's total support to Lebanon in facing all challenges.

On his part, Minister Bassil referred that these agreements include Lebanon's electricity and water needs, adding that both countries established joint committees in order to implement these agreements.