Lebanon ready to implement plans to renew economy: PM

BEIRUT, April 11 (Xinhua) -- Lebanon's Prime Minister Saad Hariri said Wednesday that Lebanon was ready to implement plans presented at CEDRE conference to renew economy.

Hariri's comments came during a conference held at the Grand Serail to address the results of CEDRE which was held in Paris on April 6. Lebanon secured 11.5 billion U.S. dollars in pledges of soft loans, investments and other loans.

One third of the loans came from the World Bank, one third from international community and the remaining third from the Arab countries, Hariri said.

He pointed that the success of CEDRE was due to the political agreement that allowed different Lebanese parties to collaborate to pass important bills ahead of the conference, enhancing trust of the international community.

The prime minister concluded that the reforms would mainly target on electricity sector, which would potentially save around 2 billion dollars for the government annually. Enditem