PARIS, Jan. 25 (UPI) -- A one-day donors' conference in Paris on aid to Lebanon brought representatives of more than 30 countries and $7 billion in pledges.
French President Jacques Chirac started the conference by promising a $650 million loan at what he called "advantageous terms," CNN reported.
As international representatives gathered in Paris, Hezbollah protesters in Beirut continued to demonstrate against the government of Prime Minister Fouad Siniora. Lebanon was devastated this summer when Israel invaded Hezbollah's stronghold in the southern part of the country and bombed parts of Beirut.
Other aid pledges include $520 million from the European Union; $1 billion from the United States, including $730 million in new money; $1 billion from the World Bank; $1.2 billion from Saudi Arabia; and $1.25 billion from the European Investment Bank, the BBC said.
Siniora said Lebanon, which had a growing economy before last summer's war, is now in "deep recession." He thanked the donors and said failure to get aid could keep Lebanon from returning to political stability.
