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Donors pledged more than $300M in aid for Beirut

Donors pledged more than $300M in aid for Beirut

French President Emmanuel Macron stated that international donors pledged more than $300 million in relief and reconstruction aid to Lebanon, which is still reeling from the horrific blast in the Port of Beirut.

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On August 4, the central port was destroyed and a significant portion of the city's waterfront was heavily damaged when 2,750 tons of ammonium nitrate exploded on the port's silo dock.

Lebanon was in a state of political and economic turmoil long before the blast, and some international assistance is conditional on changes at government level.

The International Monetary Fund said on Sunday that its commitment to the relief effort depends on financial reforms and efforts to improve the government's solvency.

Some have blamed the government of Lebanon for the explosion, and massive demonstrations have shaken downtown Beirut for days, with rioters clashing with police outside the parliament and other ministry buildings.

According to local media, over 100 people have been injured in the protests so far. Heeding the appeal, a number of high-level officials have resigned their positions over the past week, citing the blast and the government's inability to reform.

The cause of the deadly explosion was the confiscated delivery of ammonium nitrate, which had been stored on the pier since 2014. It came on board the Moldovan-flagged freighter Rhosus, who was detained for unpaid bills and abandoned that year by its owner.

Maritime Business World 

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