BEIRUT, Dec. 29 (Xinhua) -- Caretaker Economy Minister Raed Khoury said Saturday that Lebanon could lose 11 billion U.S. dollars allocated by CEDRE conference to revamp the country's ailing infrastructure if it fails to form government, local media reported.
"If we continue without a government and we fail to start very soon with reforms needed to qualify for CEDRE, we will lose the 11 billion U.S. dollars," Khoury told Elnashra, an online independent newspaper, in an exclusive interview.
Khoury said that the international community is willing to help Lebanon only if the country fulfills its promises by implementing the needed reforms including fighting corruption, reforming the public finances and public administration.
The minister said that Lebanon needs CEDRE's money to invest them in the country's infrastructure and attract investors.
"We cannot go on this way. Officials must make fast and serious decisions for reforms in a bit to get out of this crisis," he said.
Lebanon secured the loans and grants from international donors at CEDRE, an international conference in support of Lebanon development and reforms, to revamp its ailing infrastructure and bolster its economy.
Economists have on many occasions emphasized that authorities must speed up the formation of the new government to start necessary reforms to obtain the help pledged at CEDRE.
