Under the patronage of the Prime Minister, Mr. Tammam Salam two loan agreements were signed at the Grand Serail between the Lebanese government and the World Bank. The first related to the construction of Bsiri dam project which aims to secure drinking water to the residents of Beirut and to a large section of Mount Lebanon and the establishment of two electricity plants which run on hydropower while the second loan aims to reform Lebanon's financial management. The first loan worth $474 million was signed by the Finance Minister Mr. Ali Hassan Khalil, the President of the Council for Development and Reconstruction Eng. Nabil El-Jisr and Regional Director of the World Bank Mr. Fred Belhadj. The second loan agreement worth $5 million, two hundred thousand was also signed by the Finance Minister and the Regional Director of the World Bank.