By Libya Herald reporter.
Malta, 19 January 2015:
The Central Bank of Libya (CBL) has confirmed that it has commenced today the transferred . . .[restrict]of over LD 9 million of scholarship funds for Libyan students studying abroad in eighteen different countries.
These included ten countries in Europe, five in Asia and three Arab and African countries. The funds totalled LD 9,082,494 million.
Amount LD million
|1||5,491,921||Europe: Switzerland, UK, Italy, Belorussia, Ukraine, Austria, Sweden, Turkey, Slovakia, Malta,|
|2||1,788,837||Asia: Malaysia, India, Indonesia, Japan, China|
|3||1,801,736||Africa-Arab: South Africa, Morocco, Tanzania|
It is worth keeping in mind that there have been delays in the transfer of scholarship funds for Libyan students studying abroad as a result of the economic crises that Libya finds itself in caused by internal conflict, low oil production/export and the collapse of international crude oil prices by about 60 percent.
There has also been an upsurge in the number of students being awarded overseas study scholarships during the period of weak government since the 2011 revolution.
The CBL, in its recent austerity recommendations, has recommended that the number of overseas state-financed scholarships awarded is reviewed in line with Libya’s current realistic state revenues. [/restrict]