Federal Republic of Germany to present a plan to rebuild the port of Beirut destroyed by bombing

Federal Republic of Germany to present a plan to rebuild the port of Beirut destroyed by bombing

On April 7, Germany plans to present to the Lebanese authorities a plan to rebuild the destroyed port in Beirut and surrounding areas after the bombing. This was reported by Reuters, citing diplomatic sources. The port is one of the largest in the world.

According to his data, next week Berlin will submit a proposal that includes not only the reconstruction of the port itself but also the restoration of more than 100 hectares in its vicinity. In addition, the document contains the consent of the European Investment Bank (EIB) to help finance the clearing and reconstruction of the sites. One source estimates the EIB’s allocation at between €2 billion and €3 billion.

However, the necessary condition for the provision of economic support to Lebanon by international donors, including the International Monetary Fund, according to the sources, is the agreement of the composition of the new government of the country. However, according to Reuters, a Lebanese official said that France is also interested in the reconstruction project.

“This plan will not be implemented without conditions. Germany and France first want to see a government committed to implementing reforms. There is no other way, and that is good for Lebanon,” one source noted.
Moreover, according to the sources, Germany would like to work closely with France on Lebanon’s reconstruction, but for now, Paris is implementing its own initiatives.

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The acute economic and financial crisis in Lebanon is exacerbated by the absence of a government in the country following the resignation of the cabinet headed by Hassan Diab amid the tragic consequences of last August 4 bombing at Beirut’s seaport.

President Michel Aoun and Sunni politician-designate Saad Hariri, the prime minister, have been unable to agree on the distribution of ministerial positions in the future cabinet between candidates from the Christian and Muslim communities since Dec. 9. The formation of an 18-member cabinet, trusted by the International Monetary Fund, is a key condition for Lebanon to receive the $11 billion in loans needed for an economic stabilization program and major infrastructure projects.