A worker cleans debris in Beirut's Souks shopping district. AFP
Lebanon's central bank on Thursday instructed banks and financial institutions to extend exceptional dollar loans at zero interest to individuals and firms impacted by the Beirut port explosion.
Money transfer houses should distribute transfers from abroad to Lebanon in dollars, the central bank said separately.
Exceptional loans should be made regardless of customer account limits, carry no interest and be repaid over five years. It said the loans can be repaid in Lebanese pounds based on the interbank rate of 1,515 pounds to the dollar.
The central bank would in turn provide dollar loans at zero interest to the banks and financial institutions granting the exceptional loans, it said.
Rescuers searched for survivors in Beirut Wednesday after a cataclysmic explosion at the port sowed devastation across entire neighbourhoods, killing more than 100 people, wounding thousands and plunging Lebanon deeper into crisis.
Dua Lipa and Priyanka Chopra are among the stars to show support for the people of Beirut following a large explosion in the city.
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