By Libya Herald staff.
Tripoli, 19 May 2014:
The Libyan Local Investment & Development Fund (LLIDF) has appointed Deloitte & Touche (M.E.), a subsidiary . . .[restrict]of UK-based financial consultants Deloitte Touche Tohmatsu, as its advisor to on national infrastructure projects via the Libyan Public-Private Partnership (PPP) programme. According to LLIDF, Deloitte was chosen “following a competitive process with independent international evaluation”.
In its statement, the fund said it viewed the link-up as marking “an important milestone for Libya’s PPP agenda”.
The plan is that after an initial a review of the PPP strategy in Libya, the focus will be on developing LLIDF’s institutional capacity and designing the PPP delivery organisation. A number of sector studies will be undertaken to explore opportunities to attract global private investment into Libya. This will be followed by implementing a number of PPP pilot projects aimed at stimulating Libyan economic development.
The LLIDF, one of the largest investment funds in Libya and active in key infrastructure and industry sectors, is working to generate “long-term financial returns and tangible socio-economic benefits” as they work to develop Libya’s infrastructure through investment in the PPP.
The agreement was initially signed on at the beginning of April in Tripoli by Bader Ben-Othman, CEO of LLIDF, and Ian Simpson, one of the Deloitte partners.
Deloitte’s Infrastructure & Capital Projects team has worked on some of the world’s largest and most complex projects and has a wealth of expertise and experience to offer the LLIDF.
“We look forward to leveraging our global expertise to establish Libya as a centre of PPP excellence and partner of choice for private investors,” added Simpson. [/restrict]