Dear Friends of Lebanon,
As you are probably aware, the devastating explosion that rocked Beirut on August 4th is the 3rd largest explosion in a city in recorded history. The strength of the explosion shook the ground as far as Cyprus, some 250km away from Beirut.
Words fail to describe the atrocity of the detonation. The scenes of death, terror, and destruction are beyond human imagination. The toll so far more than 150 dead and over 8,000 wounded, many of whom are in critical condition.
Hundreds are still reported missing. Beirut’s main hospitals have been destroyed by the blast, leaving them unable to care for victims. The port of Beirut has been completely wiped out, and half the city has suffered severe damage. Countless buildings are still at risk of collapsing. Beyond the unbearable suffering of families who have lost loved ones, the explosion has left over 300,000 Lebanese homeless.
This catastrophic event comes in the midst of Lebanon’s unparalleled socio-economic crisis, which many of you have probably been reading about lately. The state of Lebanon has declared a default on its sovereign debt last March, the currency has lost 80% of its value, plunging the country in hyperinflation territory with over 50% of the Lebanese population now living below the poverty line.
The covid-19 crisis which has also heavily affected Lebanon like the rest of the world, now seems like a drop in the ocean. Lebanon is dying and the people of Lebanon need your support. We cannot but express our sincere gratitude for all the efforts that have already been deployed and the communication sent by Dean Mihov. INSEAD is a force for Good!
Many of you have asked how they can support in these desperate times. The INSEAD Alumni Lebanon ExCo has always supported The Lebanese Red Cross throughout the years as this institution has always been a pillar of the Lebanese society providing free emergency and pre-medical care for the Lebanese Population. They estimate their emergency funding needs to about $ 20 Million USD. You can find below a link to the Lebanese Red Cross appeal for 3 month.
We have setup a bank account in the name of the INSEAD Alumni Association Lebanon to receive all donations from fellow Alums and distribute them to the Red Cross. This initiative is being backed up by the International INSEAD Association and many of the 49 NAA and 8 global clubs.
We thank you all for your thoughts and support.
INSEAD Alumni Association Lebanon
The Executive Committee
Anthony Boukather – President
Georges AbouAdal – Vice President
Coralie Zaccar - Accountant
Jihane Azar - Treasurer
Marc Karam - Secretary