A three-day workshop was organized in Cairo, Egypt between 31 January and 2 February with the Libyan Credit Information Centre (LCIC) and the Egyptian Credit Bureau (I-score).
The workshop comes within the framework of the E-Nable project, funded by the European Union, and implemented by Expertise France,
The workshop aims to kick-start the project’s diagnostic phase and perform a comprehensive assessment of the current credit-reporting environment in Libya.
Improve credit data and increase access to finance
Expertise France reported that, in partnership with I-score, it is supporting the Libyan Credit Information Centre and key stakeholders to improve the credit reporting system in Libya by supporting enhancements to the regulatory framework for credit bureaus, strengthening the capacity of LCIC to deliver high-quality data and providing value-added services, and increasing stakeholders’ awareness on the role and importance of credit information sharing.
The overall objective is to increase access to finance for MSMEs in Libya.
A Qaddafi-era creation that never took-off
It will be recalled that the LCIC was set up back in the Qaddafi era in 2009 as part of the move to modernise the banking sector and offer more finance to private sector business. However, like many progressive ideas floated at the time, the LCIC disappeared into obscurity. Its website has also ceased functioning.