Lebanon sets in motion plans to create SWF

Gas pipeline

Lebanon is one step closer to setting up a sovereign wealth fund (SWF), after the Lebanese parliament gave the go-ahead to explore for gas in the Mediterranean Sea on Tuesday.

Reuters, a news agency, reported Ali Hassan Khalil, an aide to Lebanon's parliamentary speaker, Nabih Berri, on Tuesday as saying a SWF would be created under the auspices of the energy ministry to manage and invest potential energy revenues after it passed a law allowing exploration of gas in the Mediterranean Sea. Khalil

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