Lebanon, which is hosting more than a million Syrian refugees, needs support for economic reforms and an anti-corruption drive, he told the conference.
Some 40 countries have sent representatives to the CEDRE conference along with officials from the World Bank and the International Monetary Fund where they are aiming to put together a package worth $10 billion over four years.
France will provide €550 million ($672.10 million) in loans and grants to support Lebanon's economy, French Foreign Minister Jean-Yves Le Drian said on Friday. "France will announce a substantial effort of €400 million in concessionary loans and €150 million in donations to match its ambitions for Lebanon", Le Drian told the opening of a donor conference in Paris to raise finances for the Lebanese economy, Reuters reports. It's borne the full force of regional tensions and the Syria crisis.
Diplomats have said Lebanon's success in attracting worldwide support from donors and the private sector will hinge on reforms. A February conference in Rome was devoted to defense, and a final conference on April 25 in Brussels will address aid to Lebanon to help it better cope with Syrian refugees.
But the reinstatement of a credit line on Friday appears to suggest Riyadh is attempting to rebuild relations, after a series of rows and the brief house arrest of the Lebanese prime minister, Saad al-Hariri and his forced "resignation" while in Riyadh.
Parliament last week adopted a 2018 government budget, projecting a deficit of $4.8 billion - more than double the deficit in 2011, when Syria's war started.
The Paris conference comes as Lebanon gears up for its first general elections in nearly a decade in May, after parliament renewed its own mandate three times since 2009.
Economists say the state urgently needs to reduce its spending to avert a crisis.
"The political idea behind (the investment plan) is that the Lebanese state could be able to provide services and infrastructure to the public, rather than others", an aide to Le Drian said, referring to the powerful Hezbollah Shiite movement. France has deep ties to Lebanon, a former protectorate.
"Everyone is well aware that these investments will not work unless they are accompanied by major structural reforms", Macron's office said.