By Lysandra Ohrstrom

Source: Daily Star

BEIRUT: The government failed Friday to finalize a deal with the World Bank's private-sector arm, the International Finance Corporation (IFC) to oversee the transfer of ownership of electricity production plants - currently monopolized by state utility Electricite du Liban (EDL) - to the private sector.

Reactions from both parties following a meeting at the Grand Serail Friday were a marked retreat from Finance Minister Jihad Azour's pledge a day earlier that the deal would be signed "by the end of the week."

"It is something the government has invited us to do, but there is no agreement yet," an IFC official who attended the talks told The Daily Star. "We are one of many parties in discussions with the government."

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Posted by pichu at April 28, 2007 11:52 PM