Libya's eastern-based parliament has approved the work plan and budget of the reconstruction and development fund, which aims to rebuild the country after years of conflict. The news was shared on social media by parliament spokesperson Abdalla Blehiq.
"The House of Representatives resumed its official session on Tuesday, June 3, chaired by Second Deputy Speaker Misbah Douma. Members unanimously voted in favor of the reconstruction and development plan and approved its budget," the spokesperson stated.
Blehiq did not disclose the exact budget amount. According to Reuters, citing MP Tarek Jerushi, the post-war reconstruction budget amounts to 69 billion Libyan dinars (around $12.71 billion) and covers a three-year period. The parliament will oversee the implementation of the plan, Jerushi added.
However, Reuters also notes that political divisions between the Government of National Unity in the west and the eastern administration raise doubts about the plan's execution. The Central Bank of Libya—a unified institution for both governments—is expected to allocate the reconstruction funds.
It is also anticipated that funding will come from oil revenues generated by fields in eastern Libya. In late May, local authorities warned they could declare force majeure following attacks on the National Oil Corporation (NOC) headquarters.
Angelina Shemyakina
