Capital Investment Programme
Capital Investment Programme Report L17023-0100D-RPT-PM-01 REV 7 Capital Investment Programme INTRODUCTION Since the start of the Syrian crisis, economic growth in Lebanon has slowed down sharply and the number of people living in Lebanon has increased sharply, with an estimated 1.5 million displaced Syrians entering Lebanon during 2011-2017. Despite the major reconstruction of Lebanon’s infrastructure that took place subsequent to the end of the 15-year conflict in 1990, with low levels of public investments after 2000, due in part to fiscal and debt limitations and delays in project implementation, Lebanon’s infrastructure still had significant gaps in various infrastructure sectors when the Syrian crisis evolved. The Syrian crisis placed increased pressure on Lebanon’s infrastructure, leading to deterioration of existing infrastructure, in particular in transport, and a widening of the gaps, in particular in the electricity sector. A sharp expansion of investments in Lebanon’s infrastructure is key to and a recovery of economic growth in the medium term, with increased private sector productivity, and the creation of employment opportunities in the short term. The short-term priority is the completion of projects for which for which external financing has already been secured. These are not part of the Capital Investment Programme (CIP). The CIP is a key pillar of the Government’s vision for stabilization and development against the background of the Syrian crisis and the effects this has had on Lebanon. It comprises new projects for infrastructure investment that will eliminate the gaps that exists between the demand and need for infrastructure services, in all sectors, and the supply, and reduce the cost to the economy of the lack of adequate infrastructure.
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