Sat. Oct 5th, 2024

Mohamed Issa, undersecretary of the Ministry of Foreign Affairs in the “interim Government of National Unity”, called for the need to activate the African Investment Bank hosted by Libya.

Issa’s remarks came during his presidency of the delegation of the State of Libya participating in the meeting of the Alliance of African States, where Issa stressed the need to work to achieve a comprehensive renaissance for the African continent.

He also stressed the importance of working to address the phenomenon of illegal migration and work to achieve sustainable development in the continent in line with Agenda 2063 in order to build a better future for the African continent.

The African Union summit in Nigeria in 2008 established the African Investment Bank with an estimated capital of $ 25 billion, with Libya as its headquarters.

In 2022, Prime Minister of the Government of National Unity Abdul Hamid Dabaiba decided to form a founding committee, with Libya taking over the initiative of establishment.

In October 2023, Mustafa Al-Mana, Advisor to the Governor of the Central Bank of Libya, announced that the founding committee of the African Investment Bank had obtained the approval of six African countries to be a member of the bank.

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