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Lebanon explosion: European Commission pledges 30 million euros
The European Commission has pledged additional 30 million euros (USD 35 million) at an international donors’ conference for Lebanon after deadly Beirut explosion.
The European Commission has pledged additional 30 million euros (USD 35 million) at an international donors’ conference for Lebanon after deadly Beirut explosion.
The EU’s executive body said in a statement this comes on top of 33 million euros (USD 39 million) in emergency aid previously announced.
The new EU funding will be channelled to UN agencies, NGOs and international organizations and be strictly monitored, the statement said.
European Council president Charles Michel called during the conference for an “independent and credible” inquiry into the cause of the explosion and said that he European Union and its member states stand ready to assist.
__ Meanwhile, the head of the International Monetary Fund is warning Lebanon again that it will not get loans from the institution unless it reforms its government.
Kristalina Georgieva made the comments on Sunday during a pledging conference after the blast this week at its port damaged large parts of its capital, Beirut.
She said: “Current and future generations of Lebanese must not be saddled with more debts than they can ever repay.”
That’s why she said the IMF requires “debt sustainability as a condition for lending.” She added that “the financial system must be solvent” as well.
