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BEIRUT, Aug. 17 (Xinhua) -- The Lebanese economy minister announced on Monday that 2,500 people have applied to insurance companies for compensation totalling 425 million U.S. dollars for the damage caused by the Beirut explosions.

Raoul Nehme said the number of applications is expected to reach 10,000, the National News Agency reported.

Nehme's remarks came during his meeting with President Michel Aoun and a delegation representing insurance companies.

Urging insurance companies to compensate the victims' losses, Aoun said the economy ministry will assist those who have problems with insurance firms in this regard.

Two huge explosions rocked Port of Beirut on Aug. 4 at around 6:10 p.m. local time (1510 GMT), shaking buildings all over Lebanon's capital, and killing at least 177 while wounding 6,000 others.

The explosions caused billions of dollars in losses in Lebanon.