The International Finance Corporation (IFC), part of the World Bank Group, has unveiled five new investments and engagements aimed at improving access to energy and finance, supporting industrial growth, and generating jobs across Lebanon. The announcement was made on 20 November in Beirut, during the Beirut One investor conference, attended by the Lebanese Prime Minister, H.E. Nawaf Salam.
The initiatives form part of the wider World Bank Group strategy to assist Lebanon’s ongoing reconstruction and economic recovery. They are also aligned with the government’s recently launched economic vision.
“Lebanon is at a critical juncture, and the private sector lies at the heart of the country’s recovery journey. With this in mind, IFC’s new engagements aim to fuel private sector development and drive a sustainable, inclusive recovery, and create much-needed jobs,” said Aftab Ahmed, IFC’s Regional Director for the Middle East, Afghanistan, and Pakistan.
A major component of the programme focuses on expanding access to reliable electricity. In coordination with the International Bank for Reconstruction and Development, IFC will act as the lead transaction advisor to the Government of Lebanon. Working alongside the High Council for Privatization and PPPs and the Ministry of Energy and Water, IFC will help shape a gas-to-power public-private partnership intended to boost generation capacity. Plans include a floating storage and regasification unit to handle liquefied natural gas, the modernisation of the 465-megawatt Deir Ammar I plant, and the development of the new 825-megawatt Deir Ammar II combined-cycle facility. Officials say the projects will widen access to stable electricity, reduce reliance on diesel, improve sector efficiency, and lower generation costs.
In the financial sector, IFC is issuing a $10 million financing package, split evenly between the Lebanese Association for Development (Al Majmoua) and Vitas Lebanon. The support aims to increase lending to micro, small, and medium enterprises, including women-led businesses, as well as forcibly displaced people and host communities. The package includes a first-loss guarantee of up to $5 million under the Prospects Partnership (PROSPECTS), led by the Government of the Netherlands, which works to improve employment and social protection opportunities across the region. The initiative complements efforts by the Ministry of Social Affairs, including programmes linked to the AMAN Social Safety Net.
In manufacturing, IFC will provide up to $40 million to BCI Holding S.A. to help the company expand operations across Lebanon and the Middle East. The investment will support job creation, the establishment of a new R&D and Innovation Center, and the development of a regional back-office hub. A separate partnership with Matelec will see IFC invest up to $30 million to support infrastructure projects and expand the availability of electrical machinery and equipment in Lebanon and beyond.
IFC said the agreements build on previous work supporting infrastructure, financial access, manufacturing, tourism, and sustainable economic resilience in the country.
