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Beirut: Explosion victims to receive interest-free loans

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Lebanese central bank has ordered banks and other financial institutions to provide special loans at zero interest rates to victims of the devastating port bombing that rocked Beirut on Tuesday.

“Provide special interest-free loans in US dollars for victims of the explosion in Beirut, which must be repaid within five years,”

the Central Bank.

Earlier, the World Bank Group said that the bank is ready to look for ways to financially support Lebanon and develop a recovery plan after the explosion in Beirut.

A devastating explosion occurred on Tuesday in the area of ​​the seaport of Beirut near the Lebanese naval base. The blast wave destroyed and damaged dozens of houses, cars, glass were broken in many quarters of the capital. According to local authorities, the explosion was caused by the detonation of 2,750 tons of ammonium nitrate confiscated by customs in 2014, which were stored in the warehouse.

According to the latest data, the explosion killed 137 people, about five thousand were injured. Mourning has been declared in the country. The capital of Lebanon is recognized as a disaster area, a state of emergency was introduced in the city for two weeks.

Lena S.
Lena is an adventurous soul searching the world for truth and balance. She is a mother of 2 beautiful daughters and a full time writer for Financial News where she covers various topics from finance, government, politics, current events, crypto and technology.

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