Beirut explosion: Donors pledge $298 million at emergency meet called by French President

French President Emmanuel Macron's office informed that an emergency conference that was held on August 9 to raise funds for blast-stricken Beirut has managed to raise pledges worth $298 million. The 'International Conference of Support and Support to Beirut and the Lebanese People' met virtually on invitation from the President Macron and the Secretary-General of the United Nations. The conference was attended by Germany, Saudi Arabia, Australia, Belgium, Brazil, Canada, China, Cyprus, Denmark, Egypt, United Arab Emirates, Spain, the USA, European Union, the UK, IMF, the World Bank, among others. 

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"The participants agreed that their support should be consistent, consistent with the needs of the Lebanese people, coordinated under the leadership of the United Nations, and deployed directly to the Lebanese people in the greatest transparency and efficiency. Beyond emergency aid, Conference participants are ready to support Lebanon's economic and financial recovery, which requires, as part of a stabilization strategy, that the Lebanese authorities fully commit to in favor of the urgent and substantive reforms that the Lebanese people expect," the French presidential office informed in a release. 

Read: World Donors Demand Change Before Money To Rebuild Beirut

Beirut explosion

Lebanon's capital Beirut was struck by a massive explosion on August 4 killing at least 158 people and injuring thousands of others. According to reports, the explosion was caused by 2,700 tonnes of ammonium nitrate, equivalent to 1.2 kt of TNT, that was unsafely stored at Beirut port since 2014 and was purportedly triggered by an intense fire nearby the warehouse. The blast that leftover 3,00,000 people homeless is said to be among the most powerful non-nuclear explosion in history. 

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(Images Credit: AP)