$50 billion government funding to rebuild Libya after the catastrophe of war

Cost of reconstruction projects in Libya estimated at $50 billion

BY Libyan Express May 01, 2021 - 07:29 Updated: May 01, 2021 - 07:29

Head of Libya’s General Federation of Chambers of Commerce and Industry, estimated the cost of these projects at around $50 billion. [Illustration: Libyan Express]

The Libyan government plans to establish funds to rebuild cities and areas damaged by the country’s civil war, Prime Minister Abdul Hamid Dbeibeh said.

Dbeibeh’s remarks came during a cabinet meeting in the capital Tripoli.

“The government will establish funds for rebuilding cities damaged by the war such as Benghazi, Tripoli and Sirte,” he said, without giving further details.

There are no official estimates of the cost of the reconstruction projects needed in Libya. However, Mohammad Raied, the head of Libya’s General Federation of Chambers of Commerce and Industry, estimated the cost of these projects at around $50 billion.

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