|Kuwait gives CDR $300 million to rebuild homes
|Kuwait gave Lebanon a grant of $300 million on Tuesday as part of an effort to help the government rebuild Beirut's southern suburbs and villages in the South destroyed during this summer's war with Israel.
In the presence of Prime Minister Fouad Siniora and Kuwaiti Finance Minister Bader Mashari al-Humaidi, Kuwaiti Fund for Arab Economic Development Director General Abdul Wahab Ahmed al-Bader and Council for Development and Reconstruction (CDR) chief Nabil Jisr signed the grant agreement at the Grand Serail.
The grant will be used to rebuild 20 villages in the South, and more than 7,300 people will benefit from the package.
Lebanon has already received pledges of $940 million from the donor states that met in Stockholm in July 24.
In addition, Saudi Arabia has promised a total of $500 million for reconstruction.
Qatar has started paying compensation to those whose homes destroyed in four villages in the South.
The CDR estimated the direct material losses of the war at more than $3.6 billion, while the indirect losses are expected to be much more.
Siniora has said that the government will give $53,000 to each owner of destroyed homes in the southern suburbs and $40,000 to the residents of villages in the South and the Bekaa Valley.
The Daily Star