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

bySami Zaptia
May 23, 2021
Reading Time: 2 mins read
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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.

 

Benghazi, Derna, Sirte and Murzug Reconstruction Funds created worth a total of LD 3 billion | (libyaherald.com)

Government to establish reconstruction funds for war damaged areas | (libyaherald.com)

Italian prime minister Draghi: Italy to contribute to the reconstruction of Libya | (libyaherald.com)

Chinese business delegation to discuss Libya’s reconstruction and investment | (libyaherald.com)

Libya needs US$ 450 billion and three million foreign workers for reconstruction over a five-year period: Libyan Contractors’ Union | (libyaherald.com)

Libyan-Tunisia fund for Libyan reconstruction being considered: Libyan-Tunisian Businessmen Council | (libyaherald.com)

Continuing his flurry of reactionary decrees: Serraj creates new Ministry of Housing and Reconstruction | (libyaherald.com)

Monopoly and speculation lead to unprecedented local cement price rise – as Libya seeks post-war reconstruction | (libyaherald.com)

Libyan-Egyptian chambers trade pact to aid Libya’s reconstruction | (libyaherald.com)

Benghazi investment and reconstruction conference calls for less state dependency | (libyaherald.com)

First meeting of Benghazi reconstruction authority | (libyaherald.com)

Ageela Saleh sets up Benghazi reconstruction authority | (libyaherald.com)

Serraj proposes World Bank lead on new reconstruction fund | (libyaherald.com)

Tripoli International Airport reconstruction “will create local jobs” says Italian consortium | (libyaherald.com)

Beida government calls for proposals for Benghazi reconstruction; port reopening organised | (libyaherald.com)

Sirte reconstruction discussed by Serraj and town’s mayor | (libyaherald.com)

Italian companies visit remains of destroyed Tripoli International Airport to offer reconstruction plan | (libyaherald.com)

Ghwell launches reconstruction of Tripoli Airport, causes online protests | (libyaherald.com)

Government approves Benghazi university reconstruction work, calls on Benina airport staff to report for work | (libyaherald.com)

 

 

 
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