Libya’s Minister of Economy and Trade, Mohamed Hwej, met with the Director of the Regional Office of the African Development Bank, Mohamed Al-Azizi, yesterday at the Ministry’s Tripoli headquarters where they discussed an economic cooperation mechanism.
The deliberations were within the framework of discussing ways of cooperation in order to define priorities, plans and projects that will be included in the work of the African Bank during the 2023 to 2024 period, opening horizons for cooperation, development and investment in Libya.
The attendees also discussed projects and programmes that contribute to economic and social development, as well as supporting the process of economic integration among member states.
Infrastructure, transit trade, food security, fisheries
The Minister stressed the need to find sources of funding for infrastructure projects and transit trade, especially the Misrata-Niger road and its connection through Algeria and the Sudan-Darfur road and its connection through Egypt. He also stressed that the priority is to achieve food security through financing food security projects in southern Libya.
The Minister also reviewed the targeted projects in the fisheries sector and its initial revenue estimates of US$ 2.4 billion, and the provision of 22,000 job opportunities for Libyans.