Cabinet releasing delayed USD1.2bn in telecoms revenue funding to municipalities

11 Jan 2013

Lebanon’s Telecommunications Minister Nicolas Sehnaoui announced on Thursday that the Cabinet had agreed to release a long-delayed USD1.2 billion tranche of funding set aside for municipalities’ development, which represents the regions’ portion of state telecoms revenue. Local newspaper The Daily Star reports that the minister accused successive governments in 2000-2010 of withholding the funds to balance budgets. Under law, 10% of state telecoms revenues goes to municipalities. The state’s proceeds from combined fixed and mobile network services are roughly estimated at more than USD1.2 billion annually.