Libya: Economic Situation

(asked on 31st October 2018) - View Source

Question to the Foreign, Commonwealth & Development Office:

To ask the Secretary of State for Foreign and Commonwealth Affairs, what steps the Government has taken to help rebuild the Libyan economy following that country’s civil war.


Answered by
Alistair Burt Portrait
Alistair Burt
This question was answered on 8th November 2018

​The UK is at the forefront of efforts to encourage key Libyan and international stakeholders to engage productively in an inclusive political process, led by the UN. A durable political settlement is essential to the sustainable development of the Libyan economy. In the meantime, we are using the Conflict, Stability and Security Fund to support Libyan financial institutions such as the Central Bank and Ministry of Finance to improve public financial management. We are also undertaking projects in Benghazi and Tripoli to help entrepreneurs access finance and promote private sector development. In June, the Prime Minister appointed a dedicated Trade Envoy to Libya. When political and security conditions allow, we will step up our assistance with stabilisation and economic development in Libya, taking account of Libya's ability to fund its needs.

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