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Home Libya

Stabilisation fund over halfway to foreign pledge target

byMichel Cousins
October 4, 2017
Reading Time: 1 min read
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By Hadi Fornaji.

Tunis, 11 June 2016:

The Libya Stabilisation Fund has had further donations from its international backers. Following the EU’s gift . . .[restrict]of $6 million, Franc’s foreign ministry has now announced that it has given $1 million. Earlier, the Netherlands gave $2 million with another $8 million coming from Italy, Germany and Norway.

The total initial target is $60 million, of which half will come from foreign governments and half from the Government of National Accord. The latest donations mean that foreign contributions are now more than halfway to their $30-million mark.

Other countries have still to translate their pledges into cash. To be a member of the Stabilisation board, a foreign government has to pledge $1 million. Members so far are the EU, Germany, Italy, Qatar, Switzerland, the Netherlands, UK and US.

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The UK and the US have pledged $1 million. Qatar has pledged $2 million.

It has been decided that the first Stabilisation Fund projects to be supported will be in Benghazi, Kikla and Obari [/restrict]

 
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