Lebanon’s caretaker government, on Wednesday, approved opening credit lines totalling $116 million to fix the country’s electricity grid, Anadolu News Agency reports.
“An advance of $62 million in favour of the electricity sector has been approved,” Prime Minister, Najib Mikati, told a press conference in the capital, Beirut.
He added that a sum of $54 million has also been allocated for maintenance works.
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Lebanon’s two main power plants have occasionally broken down and require heavy maintenance.
On Monday, Lebanese Energy Minister, Walid Fayad, announced an initiative to solve the country’s chronic power outages at a cost of $600 million over five months to increase electricity supplies to 10 hours per day.
Since 2019, Lebanon has been plagued by a crippling economic crisis that, according to the World Bank, is one of the worst the world has seen in modern times.
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