diff --git a/platformio/project/helpers.py b/platformio/project/helpers.py
index abe2bf0e..d8fb5822 100644
--- a/platformio/project/helpers.py
+++ b/platformio/project/helpers.py
@@ -43,14 +43,14 @@ def find_project_dir_above(path):
     return None
 
 
-def get_project_all_lib_dirs():
+def get_project_watch_lib_dirs():
     """Used by platformio-node-helpers.project.observer.fetchLibDirs"""
     config = ProjectConfig.get_instance()
-    libdeps_dir = config.get("platformio", "libdeps_dir")
     result = [
         config.get("platformio", "globallib_dir"),
         config.get("platformio", "lib_dir"),
     ]
+    libdeps_dir = config.get("platformio", "libdeps_dir")
     if not os.path.isdir(libdeps_dir):
         return result
     for d in os.listdir(libdeps_dir):
@@ -59,6 +59,9 @@ def get_project_all_lib_dirs():
     return result
 
 
+get_project_all_lib_dirs = get_project_watch_lib_dirs
+
+
 def get_project_cache_dir():
     """Deprecated, use ProjectConfig.get("platformio", "cache_dir") instead"""
     return ProjectConfig.get_instance().get("platformio", "cache_dir")
diff --git a/platformio/public.py b/platformio/public.py
index ead093ce..51eecc52 100644
--- a/platformio/public.py
+++ b/platformio/public.py
@@ -19,7 +19,7 @@ from platformio.device.list import list_serial_ports
 from platformio.fs import to_unix_path
 from platformio.platform.base import PlatformBase
 from platformio.project.config import ProjectConfig
-from platformio.project.helpers import load_build_metadata
+from platformio.project.helpers import get_project_watch_lib_dirs, load_build_metadata
 from platformio.test.result import TestCase, TestCaseSource, TestStatus
 from platformio.test.runners.base import TestRunnerBase
 from platformio.test.runners.doctest import DoctestTestCaseParser