World Bank agrees to finance bus service overhaul in Lebanon

The World Bank has approved a $295 million package to overhaul the transport sector in Lebanon. The project will enable the purchase of 120 buses to service 40km of Bus Rapid Transit lanes from northern districts to Beirut. It will be financed by a $225 million loan, with the Global Concessional Financing Facility contributing another $70 million as a grant. The loan will be paid over 31.5 years, including an eight-year grace period.

The project will also mobilise private sector investments, in the range of $50 million and $80 million for the purchase of the buses and their operation.