July 7, 2020 / 10:08 AM / a month ago

In long-awaited step, Lebanon appoints board at state-owned power firm

BEIRUT, July 7 (Reuters) - The Lebanese government appointed a new board of directors at the state-owned electricity company on Tuesday, a ministerial source said, a long-delayed step that is one of a number of measures awaited by donor states demanding reforms.

Losses at Electricite du Liban, which have run at up to $2 billion a year, are a major strain on state finances.

Donor states want to see the sector fixed as part of reform efforts. Lebanon is in the throes of an acute financial crisis caused by decades of bad governance and corruption. (Writing by Tom Perry; editing by John Stonestreet)

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