On Saturday, the African Development Bank (AFDB) 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. It states that it will “support the country’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 was led by the Director General for North Africa, Mohamed El Azizi, and met with Libya’s Finance Minister and Governor for the AFDB, Dr. Khalid El Mabrouk.
They discussed the bank’s interventions across sectors, including water, agriculture, industry, energy and renewable energy, transport, and governance.
El Mabrouk confirmed the priorities of the government, including its ambitious Public Finance Management Reform Program. The Bank reaffirmed its willingness to “support the program, as well as the 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.
The delegation held talks with the Libyan Minister of Economy and Trade, Mohamed Al-Hwaij. He welcomed the bank’s efforts in supporting the country, and in particular, the ongoing support to the national economic diversification agenda.
Al-Hwaij emphasized that Libya “seeks to build stronger ties with Africa and Europe through effective partnerships and trade corridors. In light of the need for urgent solutions to the food security crisis, and building on the Dakar II Summit on Food Sovereignty and Resilience held in January.” The delegation and Al-Hwaij identified “value chains, such as fisheries and wheat, around which to collaborate further.”
The delegation participated in Libya’s Third Development Partner Forum on Health, held under the aegis of Prime Minister Abdel-Hamid Dbaiba 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. “It is important to scale up quality healthcare infrastructure in Libya with clear roles for public and private stakeholders,” El Azizi said. He also mentioned the opportunity for regional solutions to build on the experiences of neighbouring countries.
Malinne Blomberg, the bank’s Deputy Director-General for North Africa, and Country Manager for Libya said the mission “identified additional interventions through which the bank will complement Egypt’s efforts to build strong institutions and a diversified economy as part of Libya’s reconstruction.”
Other members of the team included Yasmine Eita, country program officer; Josiane Hodonou, health expert; Mamoru Endo, governance expert; and Iyad Dhaoui, policy economist.
