Lana News
Libyan News Agency
Latest News
LANA Al-Manfi calls on Guterres to expedite the appointment of a permanent envoy to Libya.
LANA America joins the United Nations in welcoming the appointment of a new management for the Central Bank of Libya.
LANA The House of Representatives participates in global discussions on peacebuilding.
LANA Al-Manfi discusses with Al-Lafi the necessary preparations for the national referendum and poll operations.
LANA UNSMIL welcomes appointment of Board of Directors of Central Bank of Libya.
LANA Al-Manfi meets members of the Military Committee for the Western Region.
LANA During his meeting with the mayors of the southern and eastern regions, Dabaiba confirms the government's continued activation of local administration.
LANA Al-Lafi discusses with Khoury ways to support the political process in Libya and national reconciliation.
LANA Dabaiba adopts the national strategy to address the repercussions of the spread of the phenomenon of drugs and psychotropic substances
LANA Ageela and Hammad discuss a number of important issues.

Al-Haweij discusses with the USAID financing projects in southern Libya.

Pulbished on:

Tripoli, June 9, 2024 (Lana): The GNU Ministry of Economy and Trade signed an agreement with the U.S. Agency for International Development (USAID) and Saraya Bank to finance small and medium-sized enterprises (SMEs) in southern Libya with 2 million dinars.

The agreement, whose implementation will begin in July, aims to support entrepreneurs in the south and finance (SMEs) projects in various areas in a way that contributes to developing the local economy, creating new job opportunities, and economic development in the southern regions by supporting these projects, which represent an essential pillar of the local economy.

The USAID provides technical support, and Saraya Bank handles the financial disbursement. 

The agreement is considered part of the Libya Economic Acceleration Project, funded by USAID, which aims to provide technical support for SMEs across Libya.

During his meeting yesterday, Al-Haweij briefed Michelle Bradford, Director of the USAID-funded Libya Economic Acceleration Project, on the objectives of the Libya Economic Acceleration Project, which aims to provide technical support for SMEs and create training programs to develop entrepreneurial ideas through both banking and non-banking financial tools.

Al-Haweij stressed the importance of the agreement in supporting entrepreneurs in the south and promoting economic development in the region, calling for the necessity of cooperation between the ministry and its affiliated bodies with those in charge of the project to ensure its success.

Al-Haweij stressed the support and development of SME enterprises in the southern region to enhance economic growth in the south of the country and all regions of Libya and create new job opportunities.

Bradford explained that the agreement represents an important step to support SMEs and enterprises in southern Libya, stressing that USAID will continue to provide the necessary support to strengthen the Libyan economy, and its meetings with the Central Bank of Libya have also led to the selection of Wahda Bank and Sahara Bank to finance additional projects in the south, where they have the ability and desire to finance small projects through the Islamic banking system.

=Lana=