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.
- Country:
- Lebanon
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 channeled 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 the 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.
(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)
ALSO READ
MORNING BID EUROPE-Japan wage deals put BOJ at centre stage
Forget Ethereum (ETH),Retik Finance (RETIK) and Shiba Inu (SHIB) Are the Altcoins to Watch for Big Profits in March 2024
Europe's world-first AI rules are set for final approval. Here's what happens next
EU preparing $8 bln aid package for Egypt, FT says
European shares scale new record highs on upbeat earnings