Germany to propose Beirut port reconstruction with 'strings attached' - sources | The Business Standard
Skip to main content
  • Latest
  • Epaper
  • Economy
    • Banking
    • Stocks
    • Industry
    • Analysis
    • Bazaar
    • RMG
    • Corporates
    • Aviation
  • Videos
    • TBS Today
    • TBS Stories
    • TBS World
    • News of the day
    • TBS Programs
    • Podcast
    • Editor's Pick
  • World+Biz
  • Features
    • Panorama
    • The Big Picture
    • Pursuit
    • Habitat
    • Thoughts
    • Splash
    • Mode
    • Tech
    • Explorer
    • Brands
    • In Focus
    • Book Review
    • Earth
    • Food
    • Luxury
    • Wheels
  • More
    • Sports
    • TBS Graduates
    • Bangladesh
    • Supplement
    • Infograph
    • Archive
    • Gallery
    • Long Read
    • Interviews
    • Offbeat
    • Magazine
    • Climate Change
    • Health
    • Cartoons
  • বাংলা
The Business Standard

Wednesday
June 18, 2025

Sign In
Subscribe
  • Latest
  • Epaper
  • Economy
    • Banking
    • Stocks
    • Industry
    • Analysis
    • Bazaar
    • RMG
    • Corporates
    • Aviation
  • Videos
    • TBS Today
    • TBS Stories
    • TBS World
    • News of the day
    • TBS Programs
    • Podcast
    • Editor's Pick
  • World+Biz
  • Features
    • Panorama
    • The Big Picture
    • Pursuit
    • Habitat
    • Thoughts
    • Splash
    • Mode
    • Tech
    • Explorer
    • Brands
    • In Focus
    • Book Review
    • Earth
    • Food
    • Luxury
    • Wheels
  • More
    • Sports
    • TBS Graduates
    • Bangladesh
    • Supplement
    • Infograph
    • Archive
    • Gallery
    • Long Read
    • Interviews
    • Offbeat
    • Magazine
    • Climate Change
    • Health
    • Cartoons
  • বাংলা
WEDNESDAY, JUNE 18, 2025
Germany to propose Beirut port reconstruction with 'strings attached' - sources

World+Biz

Reuters
02 April, 2021, 10:00 am
Last modified: 02 April, 2021, 10:03 am

Related News

  • Bangladeshis in Lebanon asked not to go out at night amid Iran-Israel conflict
  • Israeli military strikes Beirut's southern suburbs
  • Germany to boost military by up to 60,000 troops under new NATO targets
  • NATO to ask Berlin for seven more brigades under new targets: sources
  • German court to rule on Peruvian farmer versus RWE climate case

Germany to propose Beirut port reconstruction with 'strings attached' - sources

A chemical explosion at the port last August killed 200 people, injured thousands and destroyed entire neighbourhoods in Lebanon’s capital, plunging the country deeper into its worst political and economic crisis since the 1975-1990 civil war

Reuters
02 April, 2021, 10:00 am
Last modified: 02 April, 2021, 10:03 am
FILE PHOTO: A view shows the site of the August 4 explosion at Beirut port, Lebanon February 18, 2021. REUTERS/Mohamed Azakir/File Photo
FILE PHOTO: A view shows the site of the August 4 explosion at Beirut port, Lebanon February 18, 2021. REUTERS/Mohamed Azakir/File Photo

Germany will next week present a multi-billion-dollar proposal to Lebanese authorities to rebuild the Port of Beirut as part of efforts to entice the country's politicians to form a government capable of warding off financial collapse, two sources said.

A chemical explosion at the port last August killed 200 people, injured thousands and destroyed entire neighbourhoods in Lebanon's capital, plunging the country deeper into its worst political and economic crisis since the 1975-1990 civil war.

According to two diplomatic sources with knowledge of the plans, Germany and France are vying to lead reconstruction efforts. Berlin will on April 7 outline a proposal that the European Investment Bank has agreed to help fund that would clear the area and reconstruct facilities, they said.

The Business Standard Google News Keep updated, follow The Business Standard's Google news channel

One of the sources estimated EIB funding in the range of 2 billion to 3 billion euros.

A senior Lebanese official confirmed that Germany was due to present a comprehensive port reconstruction proposal.

Neither the German foreign ministry nor consultancy firm Roland Berger, which the diplomatic sources said put the plan together, immediately responded to requests for comment. The EIB was not immediately available for comment.

The two diplomatic sources said Lebanon's political elite first need to agree on the make-up of a new government to fix public finances and root out corruption, a condition which donors, including the International Monetary Fund, are also insisting on before they will unlock billions of dollars in aid.

"This plan is not going to come without strings attached," said one of the sources. "Germany and France want first to see a government in place committed to implementing reforms. There is no other way around it and this is good for Lebanon."

Eight months after the port disaster, many Lebanese who lost family, homes and businesses are still waiting for the results of an investigation into the causes of the blast. Lebanon is on the verge of collapse, with shoppers brawling over goods, protesters blocking roads, and businesses shuttered.

Foreign donors have said the new government must have a firm mandate to implement economic reforms, including a central bank audit and an overhaul of the wasteful power sector.

Prime Minister-designate Saad al-Hariri and President Michel Aoun have been unable to agree on a ministerial line-up, however. The outgoing cabinet, which quit after the explosion, has stayed on in a caretaker capacity.

The IMF has said there have been no programme discussions with Lebanese officials, only technical assistance with the Ministry of Finance and some state-owned enterprises.

Germany's proposal

In addition to the port itself, Germany's proposal would look to redevelop more than 100 hectares in the surrounding area in a project that the two diplomatic sources said would be along the lines of the post-war reconstruction of central Beirut.

As in that redevelopment, the plan would involve the creation of a publicly-listed company similar to Solidere, which was set up by former Prime Minister Rafik Hariri in the 1990s and remains on the Lebanon stock exchange.

The sources put the project cost at anywhere between $5 billion to $15 billion, and said it could create as many as 50,000 jobs.

The Lebanese official said France and French ports and container shipping group CMA CGM were also interested in the reconstruction project.

One of the diplomatic sources noted that France had sent several missions, including one in March that included CMA CGM, that showed an interest in playing a role in the reconstruction. That mission focused on specific clear-up operations rather than a broader redevelopment, however, the source said.

France's foreign ministry declined to comment immediately. CMA CGM declined to comment.

The Lebanese official put the onus for getting the project underway on the Europeans agreeing who would be the lead.

"This is a European decision at the end of the day, because they have to decide on it among themselves. Then when it comes to it, the Lebanese government can go ahead," the official said.

The diplomatic sources said Germany wanted to work closely with France on the issue, but that Paris was pursuing its own initiatives for now.

"The irony of all this is that on the one hand the Europeans are talking about putting pressure on the political class while on the other fighting each other over these potential contracts when the vultures are still circling," one said.

Germany / Lebanon / Beirut blast

Comments

While most comments will be posted if they are on-topic and not abusive, moderation decisions are subjective. Published comments are readers’ own views and The Business Standard does not endorse any of the readers’ comments.

Top Stories

  • US President Donald Trump points a finger as he departs for Canada to attend the G7 Leaders' Summit, from Joint Base Andrews in Maryland, US, June 15, 2025. Photo: REUTERS/Kevin Lamarque
    Trump demands Iran's 'unconditional surrender' as Israel-Iran air war rages on
  • Infographics: Duniya Jahan/TBS
    How Israel's secret nuclear arsenal comes under spotlight amid attacks on Iran
  • Iran's supreme leader Ali Khamenei and US president-elect Donald Trump. Photo: Collected
    'Not going to kill Khamenei, at least for now', says Trump, claiming US knows Iran's supreme leader's location

MOST VIEWED

  • Former Bangladesh High Commissioner to the UK Saida Muna Tasneem. Photo: Collected
    ACC launches inquiry against ex-Bangladesh envoy Saida Muna, husband over laundering Tk2,000cr
  • Infograph: TBS
    Ship congestion at Ctg port lingers as berthing time rises
  • A view of Iranian missiles across the sky as seen by Biman pilot Enam Talukder. Photo: Enam Talukder
    Biman pilot witnessed Iran's missiles flying towards Israel
  • Power Division wants Tk56,000cr PDB loans turned into subsidy
    Power Division wants Tk56,000cr PDB loans turned into subsidy
  • BNP leader Ishraque Hossain held a view-exchange meeting with waste management officials and Dhaka South City Corporation staff inside Nagar Bhaban on 16 June 2025. Photos: Hasan Mehedi
    Ishraque holds Nagar Bhaban meeting as 'Dhaka South mayor', says it’s people’s demand
  • Bangladesh gains bigger share in US apparel market as China loses ground, sees 29% export growth in Jan-Apr
    Bangladesh gains bigger share in US apparel market as China loses ground, sees 29% export growth in Jan-Apr

Related News

  • Bangladeshis in Lebanon asked not to go out at night amid Iran-Israel conflict
  • Israeli military strikes Beirut's southern suburbs
  • Germany to boost military by up to 60,000 troops under new NATO targets
  • NATO to ask Berlin for seven more brigades under new targets: sources
  • German court to rule on Peruvian farmer versus RWE climate case

Features

The Kallyanpur Canal is burdened with more than 600,000 kilograms of waste every month. Photo: Courtesy

Kallyanpur canal project shows how to combat plastic pollution in Dhaka

11h | Panorama
The GLS600 overall has a curvaceous nature, with seamless blends across every panel. PHOTO: Arfin Kazi

Mercedes Maybach GLS600: Definitive Luxury

1d | Wheels
Renowned authors Imdadul Haque Milon, Mohit Kamal, and poet–children’s writer Rashed Rouf seen at Current Book Centre, alongside the store's proprietor, Shahin. Photo: Collected

From ‘Screen and Culture’ to ‘Current Book House’: Chattogram’s oldest surviving bookstore

2d | Panorama
Photos: Collected

Kurtis that make a great office wear

4d | Mode

More Videos from TBS

What's behind the animosity between former allies Iran and Israel?

What's behind the animosity between former allies Iran and Israel?

7h | Others
21 Muslim countries condemn Israeli attack on Iran

21 Muslim countries condemn Israeli attack on Iran

7h | TBS World
News of The Day, 17 JUNE 2025

News of The Day, 17 JUNE 2025

10h | TBS News of the day
Rising default loans threaten jobs, growth, trade

Rising default loans threaten jobs, growth, trade

12h | TBS Insight
EMAIL US
contact@tbsnews.net
FOLLOW US
WHATSAPP
+880 1847416158
The Business Standard
  • About Us
  • Contact us
  • Sitemap
  • Advertisement
  • Privacy Policy
  • Comment Policy
Copyright © 2025
The Business Standard All rights reserved
Technical Partner: RSI Lab

Contact Us

The Business Standard

Main Office -4/A, Eskaton Garden, Dhaka- 1000

Phone: +8801847 416158 - 59

Send Opinion articles to - oped.tbs@gmail.com

For advertisement- sales@tbsnews.net