The African Development Bank has reaffirmed its full support for Libya’s reconstruction and economic stabilization efforts. The commitment was made during the bank’s first high-level mission to Libya since 2014, adding that it will support 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.
The delegation, led by African Development Bank Director General for North Africa, Mohamed El Azizi, met the Libyan Finance Minister and Libyan Governor for the African Development Bank, Khalid Al-Mabrouk and discussed areas of bank interventions across sectors, including water, agriculture, industry, energy and renewable energy, transport and governance.
Al-Mabrouk confirmed the priorities of the government, including its ambitious Public Finance Management Reform Program. The Bank reaffirmed its willingness to support this 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.
The Bank invited Libya to actively participate in the Africa Investment Forum as an opportunity to attract investment into the country, while the delegation held talks with Libya’s minister of Economy and Trade, Mohammed Al-Huweij, who welcomed the bank’s efforts in supporting the country, and in particular, the ongoing support to the national economic diversification agenda. He emphasized that Libya “seeks to build stronger ties with Africa and Europe through effective partnerships and trade corridors.
The delegation participated in Libya’s Third Development Partner Forum on Health, held under the aegis of Prime Minister Abdulhamid Dabaiba on 28 February 2023. The bank took stock of Libya’s health sector initiatives and explored future policy reforms and avenues of support. The forum provided Libyan authorities and development partners with an opportunity to discuss the best way to dovetail efforts to respond to the huge needs of Libya in this sector.
In his remarks at the forum, El Azizi shared the bank’s experience in strengthening national health systems across Africa. He said “It is important to scale up quality healthcare infrastructure in Libya with clear roles for public and private stakeholders,” saying that the opportunity for regional solutions to build on the experiences of neighbouring countries.
