France Just Allocated $600 Million For Beirut Silo Area Project

France Has Allocated €400 Million For Project In Beirut's Silo Area

France has allocated €400 million ($600 million USD) for a project in the silo area of the Port of Beirut, French Minister Delegate for Foreign Trade and Economic Attractiveness Franck Riester said on Tuesday.

Riester was on a tour at the Beirut Port on Tuesday morning, which he concluded with a statement affirming that France stands by the Lebanese people, especially victims of the Beirut explosion.

In addition to working on economic, social, and educational support programs, France has allocated 400 million euros for a project that targets the Port’s silo area, the official said.

Lebanon’s only silo was destroyed during the devastating August 4 explosion.

What remains of the towering structure, which was credited with shielding Beirut from some of the blast’s shockwave, is very unstable, experts have warned.

Reaffirming his country’s position with respect to the Lebanese crisis, Riester stressed that Lebanese politicians “must implement the necessary and required reforms to get the country out of the economic and financial crises,” noting that he would emphasize this during his upcoming meeting with President Michel Aoun.

Underlining the need for Lebanese officials to fulfill their duties and form a new government, Riester pointed out that France has made its decision to sanction some officials blocking government formation and that the European Union was following suit.

A recent report indicated that the EU had agreed to adopt a sanctions regime against Lebanese officials by the end of July.

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