2024-04-18 19:49:08
The Minister of Finance of the Government of National Unity, Khaled Al-Mabrouk, participated in a meeting of finance ministers and central bank governors of countries in the North African and Central Asian region with the Executive Director of the International Monetary Fund.
On the sidelines of the meeting, Al-Mabrouk met with the Director of the Maghreb and Malta Department at the World Bank, Jesco Hentschel, and the team of experts accompanying him.
During the meeting, the Minister discussed “ways to enhance joint cooperation between the World Bank Group and various Libyan sectors and institutions, and mechanisms for following up on developments related to the reimbursable advisory services agreement that the Bank is implementing for the benefit of the health sector in Libya.”
The Minister also discussed “the possibility of enhancing the role played by a specialized team from the bank, with regard to the public finance reform program being implemented for the Ministry of Finance, in addition to other programs in the areas of social protection, macroeconomics, infrastructure, and energy.”
The Minister of Finance praised “the efforts of the World Bank staff in submitting the assessment report on the damages and needs resulting from the storm and floods to which the city of Derna was exposed, and the resulting catastrophic damage, as well as the speed of their response to the request of the Government of National Unity in particular.”
As part of a series of official meetings held in Washington, DC, Al-Mabrouk and his accompanying delegation held a meeting with Dr. Mirza Hassan, Senior Advisor to the Arab Fund for Economic and Social Development.
The meeting discussed “the extent to which the Fund can support the State of Libya in attracting investments, by helping to prepare feasibility studies and providing guarantees on risks, in addition to supporting the Ministry of Finance’s initiative to establish an incubator to support the private sector in the field of innovations and knowledge in order to facilitate investment opportunities for local investors and young people.” “.
The two sides also reviewed “the current status of the loans granted to the General Electricity Company, and considered the proposal of the Libyan side regarding the possibility of canceling the interest accruing on those loans, which the Fund’s advisor promised to study thoroughly and then return to the Ministry of Finance to discuss the details and implementation steps.”
It is noteworthy that the 2024 spring meetings of the Bank Group and the International Monetary Fund were held in Washington, DC.
Suggest a correction
2024-04-18 19:49:08