Ahmad 
The Libyan Ministry of Finance has announced a proposal to waive the interest on loans granted by the Arab Fund for Economic and Social Development to the General Electricity Company.
This announcement came during a meeting between the outgoing Libyan Minister of Finance, Khalid Al-Mabrouk, and the Senior Adviser at the Fund, Dr. Mirza Hassan, on Wednesday in Washington, on the sidelines of their participation in World Bank meetings.
During the meeting, they discussed the possibility of the Fund’s support to Libya in attracting investments and providing support to the initiatives of the Ministry of Finance to establish an incubator to support the private sector in the field of innovations.
The statement issued by the ministry indicated that the two sides reviewed the current status of loans granted to the General Electricity Company and discussed the proposal to cancel the interest incurred thereon.
The ministry did not clarify the size of the loans, or the interest involved, announcing that the fund’s adviser promised to study the proposal and refer to the ministry to discuss the details and executive steps.
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