The Libyan Reconstruction and Development Fund has announced the launch of the largest international competitive initiative aimed at planning and developing the city of Benghazi into a modern, integrated, and sustainable urban and economic model that meets global standards in infrastructure and development.
The initiative seeks to transform Benghazi into a leading international economic capital and a vital hub for trade and logistics across North Africa and the Middle East. It will attract leading global firms specializing in urban design, city planning, transport, energy, housing, and public services, positioning Benghazi as a key driver of regional economic growth.
According to the Fund, this strategic move is part of a comprehensive national vision to redesign Libya’s major cities in a way that enhances the country’s competitiveness at both regional and global levels. It also aims to create thousands of job opportunities for young Libyans and diversify the national economy beyond its dependence on oil.
The Fund stressed that the initiative is based on transparency and competitiveness, while promoting strong partnerships between the public and private sectors to ensure implementation in line with international best practices.
Under this global plan, Benghazi is expected to see the execution of major infrastructure projects, including modern transport systems, smart ports, and free trade zones, along with the expansion of digital and communication networks — establishing the city as a central hub for investment, trade, and services in the region.
