Libya needs to spend US$ 134 bn on reconstruction over 10 years: Minister

May 23, 2021

Reading Time: 2 mins read

By Sami Zaptia.

Reconstruction funds are to be created for war damaged areas including Benghazi which was visited by a government delegation last month (Photo: GNU).

London, 23 May 2021:

The Minister of State for Economic Affairs, Salama al-Ghwail, revealed in an exclusive statement to Libyan 218 TV that Libya needs to spend 600 billion dinars (US$ 134 bn) on reconstruction fover the next ten years.

Meanwhile, Al-Ghwail pointed out that the estimated overall cost of the wars on the Libyan economy amounted to US$ 600 billion.

Regarding the reconstruction projects, the Minister explained that Egyptian, Turkish, Italian, German and Tunisian companies are the most likely to participate in the reconstruction projects.

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Al-Ghwell added, during his statement Friday that the reconstruction projects will provide 30 percent of job opportunities for the unemployed, according to the vacancies in the reconstruction projects.

The Minister of State suggested that the private sector will participate in the reconstruction with 60 percent while the public sector will have 40 percent of projects.

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