The Tripoli based Libyan Audit Bureau and the Libyan Internal Investment and Development Fund (LIIDF) agreed to reactivate the Sea Towers project in the Mitiga area of Tripoli.
This came during a meeting yesterday where the two parties discussed observations regarding the Sea Towers project.
Both parties agreed to address the oversight observations by the Audit Bureau and settle outstanding obligations, ensuring the project's completion in accordance with established legal and regulatory frameworks.
This discussion took place during a meeting dedicated to reviewing the financial, technical, and procedural aspects of the project, taking into account the Bureau's observations.
An agreement was reached to implement the necessary corrective measures to enhance the integrity of the project's execution and address any existing deficiencies.
The two parties also agreed to reactivate the project contract with the implementing company, following the agreed-upon procedures, to guarantee the completion of work in compliance with applicable legal and regulatory controls.
This meeting falls within the Audit Bureau's oversight role in monitoring state projects, ensuring the integrity of public spending, and promoting adherence to financial and legal regulations, thereby contributing to improved project implementation efficiency and the protection of public funds.