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Mr. Adnan Kassar, FRANSABANK's Chairman and CEO, signed a credit line for 5 million euros with Mr. Claude Periou the General Manager of PROPARCO on the 3rd of June 2004 . The signature of the agreement was achieved during a press conference at FRANSABANK's Auditorium attended beside Messrs. Kassar and Periou, by His Excellency the French Ambassador in Lebanon Mr. Philippe Le Courtier, the Economic and Commercial Advisor Mr. Patrick Manon, the Manager of the French Association for Development (AFD) in Beirut Mr. Claude Raymond and his assistant Mr. Pierre Perie, along senior executives from FRANSABANK and representatives of the local press. This new credit line will be allocated to the Lebanese Leasing Company, a subsidiary to FRANSABANK. The purpose of this credit line is to provide financing to the existing and potential clients from different productive sectors. The loans are either of short or middle‑term ranging from 5 to 7 years. The interest rate on these loans is either fixed or variable and could be in Euro or US Dollars.
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