BEIRUT, Nov 12 (NNN-NNA) – Lebanese Prime Minister, Najib Mikati, yesterday, launched a 25 million-U.S. dollar-fund, to support the recovery of targeted micro and small enterprises (MSEs), damaged by the Port of Beirut explosion, a statement by Lebanon’s Council of Ministers reported.
The Building Beirut Businesses Back and Better Fund (B5 fund), is financed by the Lebanon Financing Facility (LFF), a multi-donor trust fund, established in Dec, 2020, by the World Bank, to pool grant resources from donors, in support of the immediate socio-economic recovery of vulnerable people and businesses impacted by the explosion.
“Today, with a great effort by the World Bank and the European Union, the B5 fund is the first emergency initiative to provide business enterprises with vital support, and ensure their ability to continue, in light of the multiple crises afflicting Lebanon,” Mikati said.
Two big explosions rocked the Beirut port on Aug 4, 2020, killing more than 200 people, wounding over 6,000 others and destroying a big part of the city.
