World Bank: Beirut Port damage cost is $350mln
The World Bank Tuesday estimated the cost of damage at Beirut Port from the Aug. 4, 2020 blast at $350 million, but insisted that reforming this facility should be one of the conditions before rebuilding it.
“Reforming Lebanon’s port sector is a prerequisite for building back a better Port of Beirut and revitalizing the Lebanese economy,” according to a new World Bank note that aims to provide guidance to policymakers on the crucial additional requirements for the rebuilding of the port.
The World Bank’s Rapid Damage and Needs Assessment estimated the cost of damage at Beirut Port around $350 million.