Libya Finance Ministry reviews possibilities of opening Islamic Development Bank office

April 5, 2018

The Minister of Finance at the Presidential Council government Osama Hamad discussed with the Chairman of the Islamic Development Bank, Bandar Hijaz, possibilities of opening an office for the bank in Libya, based on a previous request by the bank itself.

Hamad added, on the sidelines of the 43th meeting of Islamic Development Bank Group in Tunisia, that the opening of the office is vitally important in building and investment sectors, according to the Facebook page of the ministry.

'Libya will speed the process of providing the bank administration with the needed data, including the development plan for the upcoming period in the country so that the bank experts can study those plans and single out the priorities to be funded.' The bank statement on Facebook reads.

Hamad called on the Islamic Development Bank to help Libya in rebuilding and development projects, touching upon the project of rebuilding Benghazi University, which was demolished by the conflict in the eastern region, saying the government and other parties have placed a plan to kick off the reconstruction of the university.

The two sides agreed to schedule a visit for a delegation from Benghazi University to Islamic Development Bank in the few coming weeks for more cooperation.

libyaobserver