Prime Minister Aldabaiba gives go ahead for Benghazi and Derna Reconstruction Funds to start work

By Sami Zaptia.

London, 19 August 2021:

Prime Minister Abd Alhamid Aldabaiba yesterday authorized the head of the Benghazi and Derna Reconstruction Fund, Ali Ibhairi, to start the work. The Prime Minister requested the speedy completion of the work of the fund, after listening to the work plan submitted by the fund and studying the necessary and approved financial allocations.

It will be recalled that in May this year the Aldabaiba government announced the formation of reconstruction funds for the cities of Benghazi, Derna, Sirte and Murzug with a budget of LD 3bn.

The funds are to help reconstruction efforts in these cities deemed to have suffered the most war damage.

No announcement has been made yet regarding the fund for southern Tripoli which also suffered much damage due to Khalifa Hafter’s war on Tripoli.

Benghazi and Derna share the same Fund worth LD 1.5 billion, Sirte is allocated LD 1 bn while Murzug gets LD 500 million.

The Funds will be resourced from the General Budget, the Foreign Currency Sales Tax, Corporate Social Responsibility contributions by foreign companies in Libya (most likely oil companies) and donations.

Libya needs to spend US$ 134 bn on reconstruction over 10 years: Minister | (libyaherald.com)