Lebanon’s government has approved an advance worth LBP150 billion (USD98 million) from the treasury to state-run telco and internet provider Ogero, to finance part of the imminent national fibre-optic network development project estimated to cost USD300 million overall, reports Lebanese website BusinessNews.

As Corning continues to gain the upper hand in the large carrier fiber market, like Verizon’s One Fiber initiative, the vendor has set a course to accelerate optical sales to $5 billion by 2020.