Germany is set to present a comprehensive port reconstruction proposal to the Lebanese authorities next week according to Reuters. “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 would be along the lines of the post-war reconstruction of central Beirut. The plan would also 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 estimate cost of the project is somewhere between $5 billion and $15 billion and would create as many as 50,000 jobs. However, the pre-condition for this project or any other project to work is having a competent government capable of committing to reforms.
It looks like everyone wants to help us rebuild our port and revive the economy but our politicians are still adamant on screwing us further.
You can read the full article [here].