Tripoli based Libyan Prime Minister continued the launch of the National Housing and Reconstruction Programme yesterday, during an expanded meeting with the programme’s management, in the presence of Director General, Faisal bin Dardaf, Head of the Executive Team for the Prime Minister’s Initiatives and Strategic Projects, Mustafa Al-Mana, along with a team of programme experts.
Housing programme reviewed
The meeting reviewed the technical presentation of the programme, which included the stages of implementation, the number of targeted projects in various regions, the operational status of each site, in addition to the technical and logistical needs necessary to ensure an effective and organized start.
Role of the Central Bank of Libya as a key partner in financing the housing initiative
In a related context, the role of the Central Bank of Libya (CBL) as a key partner in financing the initiative was emphasized, through the preparation of a comprehensive national mechanism for financing housing projects, and activating the contribution of the banking sector in supporting the real estate sector, thus contributing to the sustainability of the programme and expanding the base of benefiting from it.
The meeting also discussed implementation timetables, targeted sites, mechanisms for citizens to benefit from housing units, as well as procedures for inventory and registration within the national housing database.
Prime Minister stresses need for adherence to timetables and quality
The Prime Minister stressed the need for strict adherence to timetables and quality of implementation, stressing that the program represents an important national economic engine, by creating job opportunities, stimulating the economic cycle, supporting the private sector, and opening the way for local companies and contractors to contribute to the implementation of projects, in order to achieve balanced and comprehensive urban development in various regions.
The Central Bank of Libya house-construction finance initiative
It will be recalled that on 13 July at a Tripoli workshop, the Governor of the Central Bank of Libya, Naji Issa, said that LD 3 to 5 billion every year is not a large amount to be invested by the CBL in the construction of housing projects as a proportion of the total state budget or what is being spent on subsidized fuel annually. This is especially the case in view of the positive effect on youth and Libyan society resulting from the increased availability of housing, he had added.
Governor Issa was speaking at the workshop entitled “The Role of the Banking Sector in Revitalizing Stalled Housing Projects and Urban Development”, organised by the Central Bank of Libya in cooperation with the Tripoli based Libyan government.
At the same workshop, the government had revealed that 150,000 housing units are to be completed between 2025 and 2030.
The workshop was attended by several heads of banks, boards of directors and general managers, in addition to representatives of government agencies and real estate developers.
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Tripoli based Libyan government plans to complete 150,000 housing units by 2030
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Libya to activate stalled housing projects through local companies
https://www.libyaherald.com/2018/10/11/cbl-not-delaying-economic-reforms-pcs-maetig/
