European bank wants more reforms to increase investments in Lebanon

BEIRUT, April 1 (Xinhua) -- The European Bank for Reconstruction and Development (EBRD) on Monday stressed the need to accelerate investments in Lebanon for 2019, local media reported.

"We want to accelerate our investments for this year ... but there is a great need for urgent reforms in Lebanon, especially in the public finance and electricity sectors," Jurgen Rigterink, first vice president of the EBRD, was quoted as saying by the National News Agency.

Rigterink's remarks came during a meeting with Lebanese Finance Minister Ali Hassan Khalil to discuss joint projects between the ministry and the bank.

"We think that with the new Lebanese government, the country is ready to take these reform measures," he said.

Khalil is expected to send the draft budget to the council of ministers soon and then to the parliament for voting by the end of May.