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Lebanon is suffering from a new crisis that has been raging since the beginning of the year: it prevented the General Establishment of Housing and Banks from granting housing loans to people with limited incomes , at very low interest rates. For housing, and interest of 3% on loans granted by banks and supported by the Bank of Lebanon, note that the normal benefits on bank loans can reach more than 10%, and can not be borne by a citizen [19659002] The Bank of Lebanon stops subsidizing housing loans and stops providing Adults without the benefits of the General Housing Organization, does not come from a void in the financial accounts. The Bank of Lebanon paid the last payment for 500 million dollars in February and stopped its presentations despite the intervention of the President of the Republic and the Ministers of Finance and Social Affairs and despite popular pressure exerted on this file , including sit-ins of citizens.
The Governor of the Bank of Lebanon said that the Bank of Lebanon is not responsible for housing policy, and that is the task of the government, which must find solutions to the crisis. But the reality is different from what the governor said, because he told the director general of the institution Roni Lahoud, and some have recently met another word, so the available data indicate the financial pressures resulting from the economic crisis stifling Lebanon. Support to the public sector, in particular to cover the huge budget deficit and to grant soft loans to other investment facilities, including housing and the Investment Promotion Corporation (IDAL) .
The cessation of housing loans could expose Lebanon to high risks. In 2008, the real estate sector collapses – and some of its features are triggered by the bankruptcy of some companies – this will obviously affect the banking sector because the bulk of their financial investments goes to real estate and other loan guarantees are based on real estate.
Other housing sectors are affected by the shutdown of housing loans, including trade in building materials and labor in the construction sector, as levels fall
Politicians and veteran observers recall the crisis that occurred during the civil war between the then Minister of Housing, the late President Camille Chamoun and the Director General of Housing, Fouad Fouad Zibian , in the context of the charge of granting home loans without sectarian equilibrium, found that the number of beneficiaries of such loans was greater in West Beirut and in other Islamic regions, and that the crisis has caused the paralysis of housing without the intervention of the Minister Walid Jumblatt. Wow Yan and his connection with Shimon. The purpose of mentioning this incident is to clarify: that housing loans were in place during the civil war in Lebanon, how can Lebanon support the suspension of these loans nearly 30 years after the end of this war?
Nbader Zidan – News
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