Investors and companies could tire of waiting and “find other opportunities elsewhere,” said French ambassador to Beirut, Bruno Foucher.
France warned Lebanon on Friday that it could lose the support of the international community and its assistance of billions of dollars in case of further delay in the formation of a government.
Last April, Paris hosted the CEDRE conference to support the Lebanese economy largely weakened by the conflict that has ravaged neighboring Syria since 2011. The international community committed $ 11.5 billion in loans and grants. However, the amounts pledged are essentially allocated to infrastructure projects that can not be implemented in the absence of a new cabinet.
The formation of a new government has been dragging on for almost seven months due to deep differences between the different parties.
“We regret very much that our Lebanese friends are not able (…) to agree on a government,” said French Ambassador to Lebanon Bruno Foucher on Friday. “It would be a shame if Lebanon, which was able to arouse such solidarity, lose the interest of this solidarity by not being able to set up a government”, he insisted, during a press conference in Beirut. “The absence of a government in Lebanon means taking the risk of losing the momentum that has been generated in the international community,” Foucher warned.
Investors and businesses may tire of waiting and “find other opportunities elsewhere,” he said. “There are other countries that may need international means to rebuild or heal the wounds of war,” Foucher concluded.