The Lebanese Central Bank issued on August 6, 2020 basic decision no. 13254 under basic circular 152 to banks and financial institutions to provide exceptional US dollar loans to individuals, SMEs, and corporations damaged by the explosion that took place in the Beirut port to restore their shattered properties. More specifically, the decision requires banks and financial institutions operating in Lebanon to secure from the borrowers the restoration bills and verify their accuracy. Banks and financial institutions are required to grant the loans regardless of the specified ceilings for every client at a 0% interest rate. The borrower must repay the loan over a period of five years based on monthly or quarterly installments starting October 31, 2020 or the end of the month that follows the month during which the loan was granted, whichever is longer. The provisions of the circular also consent the borrower to repay the loan in LBP based on the agreed upon exchange rate between banks and the Central Bank. In addition, the borrower reserves the right to prepay the loan without incurring any fees or commissions. The Central Bank in its turn will grant banks and financial institutions credit lines in US dollars bearing a 0% interest rate for a period of 5 years corresponding to the amount of loans extended by banks. In addition, and in order to benefit from the provisions of the decision, banks and financial institutions must provide between August 15, 2020 and October 31, 2020 to the directorate of financial operations at BDL a list of the aggregate loan approval requests constituting the names of the borrowers and their respective loan amounts. Banks must repay the loans to BDL on a monthly basis in the same currency used by the client to pay back his loan. It is worth mentioning that banks and financial institutions will be exempted from constituting regulatory expected credit losses on the aforementioned loans.