The US ambassador reveals the details of the international initiative to manage Libyan oil revenues.

Tripoli, June 29, 2022 (LANA) - The United States Ambassador and Special Envoy to Libya "Richard Norland" revealed the details of the Libyan Oil Revenue Administration initiative, which he called (Mustafid).

Norland explained in a press conference on in Tripoli  on Wednesday that the initiative was proposed by the chairmen of the economic working group that emerged from the outcome of the Berlin conference and includes the European Union, the United Nations, the United States and the Arab Republic of Egypt, where they agreed to present it as a proposal and whether or not it is up to the Libyan authorities.

I consider that the main objective of the (Mustafid) initiative is to provide the necessary funds for basic matters such as pensions, subsidies and grants, in addition to the education, health and other sectors, so that sums of oil resources are allocated only for these purposes, through a committee that monitors the flow of these funds and the way they are disbursed and ensure that they are spent in rightful ways.

The US envoy said: "Some people ask about the duration of this mechanism and how long it will last? And whether the international community will determine the period? The answer is simply that the Libyans alone determine the period of its start and end, so we called it short-term."

Norland called on the authorities responsible for closing the oil to give an opportunity to the idea of ​​managing oil resources, so that it might be able to reach a logical distribution of those resources.

He pointed out that the initiative came after many complaints from citizens and parties in Libya about the inequality and fair distribution of oil wealth and its proper use.

The US envoy revealed that the “Mustafid” initiative was presented to the National Unity Government, the Fathi Bashaga government, the House of Representatives, the National Oil Corporation and all relevant parties, and we received positive responses from them.. What matters to us is that they understand the importance of the initiative, especially at this critical juncture.

He added that the importance of this initiative lies in the widest participation in it, and we also stress that what matters to us is the participation and contribution of everyone in this initiative as soon as possible.

..(LANA) ..