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The LCB and the European Development Bank discussing ways to cooperate in reconstruction.

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Marrakesh, October 14, 2023 (LANA) - The Governor of the Central Bank of Libya, Al-Siddiq Al-Kabir, met on Saturday, in Marrakesh, Morocco, with the executive Director of the Southern and Eastern Mediterranean Region at the European Bank for Reconstruction and Development.

  The meeting, which was held on the sidelines of the annual meetings of the International Monetary Fund, reviewed aspects of cooperation between the Central Bank of Libya and the European Bank regarding the reconstruction of the city of Derna and areas affected by floods, based on the European Bank’s experience in this field.

The meeting touched on previous Warsaw meetings, the programs run by the bank to create local development and the possibility of implementing it in southern Libya, activating Libya’s membership in the European Bank, which began in 2013, and reviewing the results of the Libyan delegation’s visit to the bank’s headquarters in London last month.

The two sides also discussed the financing opportunities granted by the European Bank to the private sector and small and medium enterprises, especially to women and youth, and benefiting from the Bank’s experience in the Republic of Egypt, and the Bank’s experience in investing in solar energy to benefit from it in the future.