Two informed sources that Germany will present, next week, a proposal worth billions of dollars to the Lebanese authorities for the reconstruction of the Beirut port, in an attempt to attract politicians to form a government capable of putting an end to the financial collapse in the country, reports Reuters.

The explosion in the Beirut seaport last August killed at least 200 people, injured thousands, and destroyed large areas of the Lebanese capital.

The explosion exacerbated the political and economic crisis that Lebanon has been experiencing for quite some time.

Reuters quoted two diplomatic sources familiar with the plans as saying that Germany and France are in competition to lead the reconstruction efforts in Lebanon.

On April 7, the two sources said, Berlin will outline a proposal approved by the European Investment Bank, which will include cleaning up the area and rebuilding its facilities.

The sources estimated that the financing to be provided by the European Investment Bank ranges between 2 and 3 billion euros.

On the Lebanese side, a senior official confirmed that Germany would present a comprehensive proposal for the reconstruction of Beirut port.

Reuters directed requests for comment to both the German Foreign Ministry and the consulting firm Roland Berger, but did not get any response, and the European Investment Bank was not available to comment on the matter.

The two sources pointed out that the political class in Lebanon must first reach an agreement on forming a new government to reform the financial situation and eradicate corruption, a condition that donors, including the International Monetary Fund, insist on implementing before providing support to Lebanon.

Although eight months have passed after the disaster, many Lebanese are still awaiting the results of the investigation into the cause of the explosion.

The Prime Minister, Saad Hariri, and the Head of State, Michel Aoun, were unable to reach an agreement on a cabinet lineup until the same time, Carnegie Middle-East Centre wrote.

In addition to the reconstruction of the port itself, the German proposal will include the reconstruction of an area of ​​up to a square kilometre in the vicinity of the blast area, similar to the reconstruction of Beirut Central District after the war.

The sources estimated that the total cost of the reconstruction project may reach between 5 billion and 15 billion dollars, and said that it could create up to 50 thousand jobs.

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