France pledges 550 mln euros to Lebanese development

PARIS, April 6 (Xinhua) -- France pledged to offer 550 million euros (673 million U.S. dollars) to Lebanon to give a boost to the country's development, French Foreign Minister Jean-Yves Le Drian announced on Friday.

Hosting a donor meeting here, Le Drian said that France vowed "a substantial effort of 400 million euros in concessional loans and 150 million in grants."

"There is no friendship, there is only evidence of friendship -- that's why we have collectively mobilized in support of Lebanon and its institutions in key areas: security, humanitarian aid and economy," he said.

France hosted an international conference on Friday to raise funds to help Lebanon to implement its economic and institutional reforms and better handle refugees.

About 40 countries and representatives from the World Bank and International Monetary Fund gathered to "take concrete and substantial commitment" to address humanitarian and economic crisis in the Arab country.

They are targeting to collect a fund worth 10 billion U.S. dollars over four years.

"In a Middle East shaken by crises, wounded by civil wars, Lebanon remains the model of pluralism, tolerance and openness which we need," the French minister told the gathering.

"But Lebanon is not an island. It's borne the full force of regional tensions and the Syria crisis. It combats terrorism on its borders and in its own country, and with more than a million refugees, it has taken more than its share of the Syrian exodus," he added.

A separate donor conference will take place in Brussels by the end of April with a view to stimulating investments to offer Beirut more funds to mainly address the refugee crisis. Enditem