Chairman of the founding committee of the African Investment Bank told LANA: The African summit’s decision supporting Libya’s hosting of the bank is a restoration of its position on the African continent.

Tripoli, February 20, 2024 (LANA) - The Chairman of the Founding Committee of the African Investment Bank, Mustafa Al-Mana, considered the recent African Summit decision supporting Libya’s hosting of the bank a restoration of its position on the African continent, which had been absent since 2011.

At the summit held in Addis Ababa (the headquarters of the African Union) on the 17th and 18th of February, African leaders affirmed their support for Libya’s efforts and vision aimed at strengthening the role of African finance, welcoming the work and efforts of the founding committee of the African Investment Bank.

The African leaders affirmed in a unanimous decision that the efforts of Libya and its founding committee to launch the African Investment Bank are in line with the directives of the African Union, and they called on member states that had not ratified the bank’s charter to expedite ratification after reviewing the distinguished efforts.

The Chairman of the Founding Committee of the African Investment Bank, Mustafa Al-Mana, said in a statement to the Libyan News Agency that this African decision is a success for the efforts of the Libyan state in defending its right to host the African Investment Bank and Libya’s leadership of an initiative to strengthen financial institutions on the African continent as a fundamental support for development efforts in Continent.

Al-Mana explained that this decision, which was the result of exceptional efforts led by the Founding Committee with the support of the Prime Minister of the National Unity Government, the Presidential Council and the Libyan Ministry of Foreign Affairs, is an affirmation of Libya’s return to regain its position on the African continent, which it had been absent since 2011.

(LANA)