The Lebanese Council of Ministers has approved to mandate IDAL to repay the Chinese loan through Lebanese exports by virtue of its resolution no 86 dated 31/10/2012.

In this regard, an MOU has been signed between IDAL and the China National Complete Plant Import & Export Corporation (Group) known as the “COMPLANT” to coordinate the repayment of the loan. Copies of the MOU were equally shared with the Lebanese Central Bank (BDL) and the China Development Bank (CDB) to consolidate cooperation between all parties.

The parties agreed to proceed with the payment of the Chinese loan through Lebanese products which are olive oil, wine, canned and dried fruits, fruit Jam, and dried nuts

IDAL is now ready to proceed with all the procedures that were agreed within the MOU and the mechanism negotiated with all parties.

To download the MOU, please click here.