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The Central Bank allocates $100 million for the import of oil and basic commodities in preparation for Ramadan

Pulbished on:

Tripoli, February 16, 2026 (LANA) – The Central Bank of Libya has allocated $100 million in letters of credit for the import of six million boxes of cooking oil, in addition to a number of other essential food commodities, as part of preparations to meet the needs of the local market with the approach of the holy month of Ramadan.

This decision was made during a meeting held yesterday, Sunday, at the bank's headquarters in Tripoli, between the Governor of the Central Bank of Libya, Naji Issa, and the President and CEO of the Federation of Libyan Industries, in the presence of several department heads from the bank and a group of suppliers.

The bank explained on its official Facebook page that an urgent agreement was reached for suppliers to deliver 2.5 million boxes of cooking oil during the current and following weeks, with the remaining quantities to be supplied under the approved letters of credit, which have a total value of $100 million, equivalent to six million boxes.

The bank indicated that the meeting addressed the difficulties and challenges hindering the supply of basic food commodities, and the need to overcome them immediately, ensuring a regular supply, compensating for existing shortages in the market, contributing to price stability, and providing goods to citizens at prices commensurate with their cost, especially during Ramadan and the months that follow.

...(LANA)...