AGL 37.89 Decreased By ▼ -0.26 (-0.68%)
AIRLINK 124.10 Increased By ▲ 2.59 (2.13%)
BOP 5.67 Decreased By ▼ -0.18 (-3.08%)
CNERGY 3.75 No Change ▼ 0.00 (0%)
DCL 8.55 Increased By ▲ 0.15 (1.79%)
DFML 40.48 Decreased By ▼ -0.41 (-1%)
DGKC 87.10 Increased By ▲ 2.50 (2.96%)
FCCL 33.98 Increased By ▲ 1.28 (3.91%)
FFBL 66.01 Increased By ▲ 0.51 (0.78%)
FFL 10.20 Increased By ▲ 0.15 (1.49%)
HUBC 104.45 Increased By ▲ 0.65 (0.63%)
HUMNL 13.45 Increased By ▲ 0.20 (1.51%)
KEL 4.78 Increased By ▲ 0.35 (7.9%)
KOSM 6.84 Decreased By ▼ -0.25 (-3.53%)
MLCF 38.84 Increased By ▲ 1.34 (3.57%)
NBP 60.35 Increased By ▲ 0.10 (0.17%)
OGDC 179.65 Increased By ▲ 7.40 (4.3%)
PAEL 24.97 Increased By ▲ 0.17 (0.69%)
PIBTL 5.71 Increased By ▲ 0.01 (0.18%)
PPL 153.00 Increased By ▲ 11.31 (7.98%)
PRL 22.79 Increased By ▲ 0.07 (0.31%)
PTC 14.91 Increased By ▲ 0.17 (1.15%)
SEARL 66.85 Increased By ▲ 2.29 (3.55%)
TELE 7.01 Decreased By ▼ -0.13 (-1.82%)
TOMCL 35.70 Increased By ▲ 0.20 (0.56%)
TPLP 7.32 Increased By ▲ 0.03 (0.41%)
TREET 13.99 Decreased By ▼ -0.21 (-1.48%)
TRG 50.95 Decreased By ▼ -0.80 (-1.55%)
UNITY 26.40 Decreased By ▼ -0.20 (-0.75%)
WTL 1.23 Increased By ▲ 0.01 (0.82%)
BR100 9,717 Increased By 233.5 (2.46%)
BR30 29,237 Increased By 866.2 (3.05%)
KSE100 90,860 Increased By 1893.1 (2.13%)
KSE30 28,458 Increased By 630.4 (2.27%)

FORT BREGANCON, (France): An emergency donor conference on Sunday for blast-stricken Lebanon raised pledges worth nearly 253 million euros ($298 million) for immediate humanitarian relief, the French presidency said.

Those commitments would not be conditional on political or institutional reform, President Emmanuel Macron's office said. There were also pledges made for longer-term support that would depend on changes brought in by the authorities, the Elysee Palace said.

World powers promised not to fail the Lebanese people as the capital, Beirut, recovers from the massive explosion that killed 158 people and destroyed swathes of the city last Tuesday.Lebanon was already mired in political and financial crisis before the blast.

Foreign countries demanded transparency over how the aid is used, wary of writing blank cheques to a government viewed by its own people as deeply corrupt. Some are concerned about the influence of Iran through the Shi'ite group Hezbollah.

The "assistance should be timely, sufficient and consistent with the needs of the Lebanese people ... and directly delivered to the Lebanese population, with utmost efficiency and transparency," the final communique stated.

Macron, who visited Beirut on Thursday, hosted the conference by video-link and in his opening remarks urged participating nations to put aside their differences and support the Lebanese people.

The international response should be coordinated by the United Nations in Lebanon, he added.

The offer of assistance included support for an impartial, credible and independent inquiry into the blast. Public anger over the explosion has prompted some Lebanese to call for a revolt to topple their political leaders.

"Our role is to be by their side," Macron said from his summer retreat on the French Riviera.

REFORMS

President Donald Trump told the conference the United States was ready to continue providing aid to help the Lebanese, the White House said.

"The President called for calm in Lebanon and acknowledged the legitimate calls of peaceful protesters for transparency, reform and accountability," a White House statement said.

The explosion gutted entire neighbourhoods, leaving 250,000 people homeless, razing businesses and destroying critical grain supplies.

Rebuilding Beirut will likely run into the billions of dollars. Economists forecast the blast could wipe up to 25% off of the country's GDP.

Up to Sunday's conference there had been an array of offers of immediate humanitarian support such as rescue teams and medical supplies.

In a sign of the mistrust between Beirut and donors before the blast, debt default talks between the Lebanese government and International Monetary Fund had stalled in the absence of reforms.

The communique said Lebanon's partners were ready to support the country's longer-term economic recovery if leaders committed fully to the changes expected by the Lebanese.

Comments

Comments are closed.