The Libyan Government of National Unity’s Finance Minister, Khaled Al-Mabrouk, engaged in discussions with a delegation from the African Export-Import Bank (Afreximbank) in Tripoli. The meeting, held on Thursday, focused on Libya’s potential membership in Afreximbank and the establishment of the bank’s regional office in North Africa, considering Libya as a potential location.
The ministry’s media office reported that the Afreximbank delegation invited Minister Al-Mabrouk to join the bank, highlighting the potential benefits for Libya, including support for reconstruction projects and market presence. This meeting builds on previous discussions between Al-Mabrouk and Afreximbank President Benedict Oramah, held in Marrakech, Morocco, during the World Bank Group and International Monetary Fund annual meetings in October 2023.
Afreximbank, founded in 1993 with support from the African Development Bank, aims to enhance intra-African trade, finance trade, and support infrastructure development across the continent. Libya remains the only African country not yet a member of the bank.
Since the 2011 uprising, Libya has experienced significant political and economic instability, affecting its oil-dependent economy and leading to a humanitarian crisis. The country’s situation has also impacted oil production and prices globally, while posing challenges for migrants and refugees transiting through Libya.
