The agreement comes in the wake of 23 November’s Paris II donors’ conference, at which Hariri secured pledges of $4,400 million in concessionary loans to help tackle the country’s huge public debt (MEED 29:11:02). Hariri told legislators that the bill was a necessary accompaniment to these pledges. Parliament insisted on some assurances from the government in return for its approval. The executive promised to abandon $2,000 million of borrowing set out in the 2003 budget, and to ensure that foreign-currency denominated debt never exceeded that denominated in Lebanese pounds.