Lebanese Finance Minister Affirms Government Commitment to Economic Reforms

Lebanese Finance Minister Yassin Jaber received Fanny La Bart, Deputy Director of Economic Relations at the French Ministry of Finance, during a working visit aimed at strengthening financial and technical cooperation between Lebanon and France, as well as following up on reform and economic issues of mutual interest.

The French delegation included François Sporrer, Head of the Regional Economic Section, and economic and financial attaché Kenza Zani. Representing Lebanon were Director of Public Finance George Maarawi and advisors Zeina Qassem and Claudine Karki.

The meeting focused on the progress of financial and economic reforms, particularly the draft law on restructuring the banking sector and developments in negotiations with the International Monetary Fund.

Minister Jaber emphasized that "the government is continuing to implement the necessary reforms to restore confidence in the Lebanese economy and reactivate the economic cycle," stressing "the need to overcome political and technical obstacles that still hinder some key files."

He highlighted that "addressing the situation of the banking sector is a national priority due to its direct impact on economic and investment activity," affirming that "restoring the normal role of banks is a fundamental step in the path to economic and financial recovery."

The participants also discussed a strategy to transform Lebanon into a regional trade corridor, leveraging its geographical position as a logistical gateway connecting the Eastern Mediterranean with the Arab hinterland. This included presentations on several projects linking Lebanon with neighboring countries through railway networks and pipelines, alongside plans to develop border crossings and logistical infrastructure to facilitate trade movement, reduce transportation costs, shorten shipping times, and enhance the competitiveness of the Lebanese economy.

The talks further covered efforts to modernize public administration and strengthen oversight and transparency. Progress was reported on activating scanning systems at the Port of Beirut to ensure trucks undergo inspection and verification, as well as on the development of a modern data center established with support from the Lebanon Financing Facility (LFF) as part of the digital transformation plan and technological infrastructure upgrades for public administration.

Both sides addressed challenges related to attracting and retaining specialized human resources amid current economic conditions, and discussed ways to enhance the administrative and technical capacities of public institutions to meet reform and modernization requirements.

Minister Jaber and the French delegation underscored that "the success of economic and financial reforms and the implementation of major strategic projects require a stable and secure environment," affirming that "security stability is essential for restoring investor confidence and attracting both local and foreign investments." They agreed that "stability is an indispensable pillar for the success of infrastructure projects, regional connectivity, digital transformation, and for opening new avenues for growth and job creation."

At the conclusion of the meeting, both parties reaffirmed "the importance of continuing cooperation between Lebanon and France in financial, economic, and technical fields to support reform efforts and enhance opportunities for recovery and economic advancement in the upcoming phase."