Tripoli, 8 March 2023 (TDI): The African Development Bank (AfDB) has reaffirmed its full support to Libya for its reconstruction and economic stabilization, during the high-level mission on the 3rd of March.

The delegation led by AfDB Director General for North Africa, Mohamed El Azizi, met Finance Minister and Libyan Governor for the AfDB, Dr. Khalid El Mabrouk.

In the high-level meeting, the Bank committed to supporting Libya’s efforts to speed up its economic diversification agenda, including promoting investment opportunities, in line with the bank’s strategy that focuses on strengthening institutional capacity and improving economic infrastructure.

They also discussed the Bank’s interventions across several sectors, including water, agriculture, industry, energy and renewable energy, transport, and governance.

Libyan Governor El Mabrouk confirmed the priorities of the government, including its ambitious Public Finance Management Reform Program.

In response, the Bank reaffirmed its willingness to support the program, as well as means to diversify the economy away from oil and hydrocarbons through private sector development and unlocking the potential of renewable energy.

Director-General El Azizi also invited the Libyan Government to actively participate in the Africa investment forum as an opportunity to attract more investment into the country.

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The delegation of the AfDB also met with Libya’s Ministry of Economy and Trade, Mohamed Al-Huwaji. He welcomed the efforts of the Bank for supporting the country’s economic development.

Minister Al-Huwaji also urged that Libya seeks to build stronger ties with Africa and Europe through effective partnerships and trade corridors.

Third Development Partner Forum on Health

The delegation also participated in Libya’s Third Development Partner Forum on Health, held under the aegis of Prime Minister Abdulhamid Dabaiba on 28 February.

While talking in the Forum, Director General El Azizi shared the Bank’s experience in strengthening national health systems across Africa.

Further, he added, “It is important to scale up quality healthcare infrastructure in Libya with clear roles for public and private stakeholders.”