Hariri: France Satisfied with Investment Plan Progress

Lebanese Prime Minister Saad Hariri visits Beirut Port on Friday September 6, 2019. Dalati and Nohra photo
Lebanese Prime Minister Saad Hariri visits Beirut Port on Friday September 6, 2019. Dalati and Nohra photo
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Hariri: France Satisfied with Investment Plan Progress

Lebanese Prime Minister Saad Hariri visits Beirut Port on Friday September 6, 2019. Dalati and Nohra photo
Lebanese Prime Minister Saad Hariri visits Beirut Port on Friday September 6, 2019. Dalati and Nohra photo

French President Emmanuel Macron is satisfied with Beirut's progress on starting an infrastructure investment program, Lebanese Prime Minister Saad Hariri's press office said on Friday, a day after a French envoy criticized the speed at which Lebanon is reforming its economy.

Foreign governments and donor institutions last year pledged $11 billion in financing to Lebanon for a 12-year infrastructure investment program at the CEDRE conference in Paris, on condition that it carries out reforms.

Hariri’s office said in a statement Friday that the PM received a telephone call from Macron, who “expressed his satisfaction with the progress made towards launching the CEDRE investment projects.”

Macron called Hariri after French diplomat Pierre Duquesne concluded a four-day visit to Lebanon to assess Beirut's progress on starting work on the infrastructure projects and other reforms.

Duquesne himself said that the donors' funding offers still stand, but stressed that Lebanese authorities need to speed up reforms, pass a state budget for 2020 this year and decide which of the 250 infrastructure projects will take priority.

"Donors are still ready to help, provided that things happen in the required and right way," he said.

Funding has not yet begun to flow, he said, because Lebanon was without a government for nine months following elections last year.

"And even after (government) formation, donors continue to question the Lebanese government. This view is shared by all donors," Duquesne said.

He was also critical of how some Lebanese politicians were approaching the urgency of the economic problems in the country.

"Some people still believe that there is a miracle solution, a magical solution to solve all the problems. This does not exist."

"Time is running out and we cannot continue with the endless debates," he added.

On Monday Lebanese politicians declared a "state of economic emergency” and Hariri said the government would take emergency measures to speed up reforms, including holding more meetings.

With one of the world's highest debt burdens, low growth and crumbling infrastructure, Lebanon's economy is struggling and authorities are seeking to implement reforms to ward off a crisis.

During Thursday’s phone call, “Macron also stressed France's commitment to Lebanon's stability and security, the strengthening of its state and institutions and the importance of preserving calm on the southern border,” Hariri’s office said.

The frontier between the two countries has remained calm since Israel and Hezbollah traded fire on Sunday.



Saudi Arabia, US Commit to Deeper Economic Ties with Energy, Industry Deals as Trump Visits Riyadh

Crown Prince Mohammed bin Salman, Crown Prince and Prime Minister, and US President Donald Trump speak during a meeting at the Royal Palace in Riyadh, Saudi Arabia, Tuesday, May 13, 2025. (AP)
Crown Prince Mohammed bin Salman, Crown Prince and Prime Minister, and US President Donald Trump speak during a meeting at the Royal Palace in Riyadh, Saudi Arabia, Tuesday, May 13, 2025. (AP)
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Saudi Arabia, US Commit to Deeper Economic Ties with Energy, Industry Deals as Trump Visits Riyadh

Crown Prince Mohammed bin Salman, Crown Prince and Prime Minister, and US President Donald Trump speak during a meeting at the Royal Palace in Riyadh, Saudi Arabia, Tuesday, May 13, 2025. (AP)
Crown Prince Mohammed bin Salman, Crown Prince and Prime Minister, and US President Donald Trump speak during a meeting at the Royal Palace in Riyadh, Saudi Arabia, Tuesday, May 13, 2025. (AP)

Saudi Arabia and the United States signed on Tuesday energy and industry agreements as President Donald Trump visited Riyadh where he was welcomed by Crown Prince Mohammed bin Salman, Crown Prince and Prime Minister.

“The United States and Saudi Arabia share a commitment to deeper economic integration, underscoring the Kingdom’s pledge of expanding cooperation in critical sectors such as health, energy, and science,” said White House in announcing the agreements.

The US Department of Energy and Saudi Ministry of Energy concluded an agreement for cooperation in the field of energy exchanged by Saudi Minister of Energy Prince Abdulaziz bin Salman bin Abdulaziz and US Secretary of Energy Chris Wright.

“This agreement builds upon their strong existing relationship; it will focus collaboration on examining the potential for innovation, development, financing, and deployment of energy infrastructure,” said the statement.

The Saudi Ministry of Industry and Mineral Resources and US Department of Energy signed a Memorandum of Cooperation to collaborate on mining and mineral resources. “The agreement contributes to economic development and the diversification and resilience of critical mineral supply chains,” added the statement.

NASA and the Saudi Space Agency signed an agreement for a CubeSat to fly on NASA’s Artemis II test flight. Saudi Arabia’s CubeSat will measure aspects of space weather at a range of distances from Earth and deploy in high Earth orbit from a spacecraft adapter on the Space Launch System rocket after the Orion spacecraft is safely flying on its own with its crew of four astronauts.

The US and Saudi Arabia recently agreed to modernize the Air Transport Agreement to allow US airlines to carry cargo between Saudi Arabia and third countries without needing to stop in the United States, an important right for cargo hub operations. Saudi carriers will have the same rights to serve the United States.

Trump had arrived in the Kingdom earlier on Tuesday on his first overseas trip since his reelection. He will next visit the United Arab Emirates and Qatar.

Saudi Arabia and the United States also signed the largest defense sales agreement in history, worth nearly early $142 billion.