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The Banque du Liban Financial Operations Directorate issued the following circular:
Subject: Results of Intermediate Resolution 13222 The content of Intermediate Circular No. 552 is related to the facilities that the Banque du Liban can grant to banks and financial institutions.
In implementation of the Banque du Liban decision on facilities that can be granted to banks and financial institutions in US dollars in exchange for granting exceptional loans in Lebanese pounds or in US dollars at zero% interest to their clients who cannot pay their fees during the four months of March, April, May and June, or to meet the needs of its clients from institutions and companies to pay the salaries of their employees. Or meeting its productive and operational needs during the specified period, the Banque du Liban granted banks and financial institutions exceptional loans worth almost $ 400 million (18% of which were against loans granted by banks in Lebanese pounds and 82% against loans granted by banks and financial institutions in US dollars). And the number of beneficiaries of them reached almost 29,000, between individuals and institutions.
The loans granted were distributed as follows:
Bonus payment 74%
Pay 11% of wages
Covering operating expenses 9%
Covering productive needs or operating capital 6%.
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