Government to establish funds for reconstructing Benghazi, Derna And Tripoli

Government to establish funds for reconstructing Benghazi, Derna And Tripoli

May 08, 2021 - 12:38
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Written By: SafaAlharathy

The government has announced the establishment of two sovereign funds in line with resolutions 45 and 46 to reconstruct the cities of Benghazi, Derna, and southern Tripoli.

According to the decision published on the government's Facebook page, the two funds which would operate from Benghazi and Tripoli shall have legal personality and independent financial liability, subordinate to the Council of Ministers.

The funds are aimed at reconstructing and rehabilitating war-affected areas in Benghazi, Derna, and southern Tripoli.

"The government has allocated one billion Libyan dinars to the reconstruction fund for southern Tripoli and one and a half billion to the one for Benghazi and Darna," the government explained, noting that besides these allocations, the fund would be run by the foreign exchange fees, and the companies ’contribution per the principle of social responsibility.

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