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Reconstruction projects will cost Libya $ 200 billion

This is the amount required for the restoration of Libya, which is under UN Security Council sanctions, was recently announced by the Minister of Economy and Trade of the Transitional Government of National Unity (PNU) of Libya, Muhammad al-Khuweij. The minister referred to recent estimates by the World Bank and a number of Libyan institutions, stressing that the contracts signed earlier with entrepreneurs from France, Tunisia, Egypt, Italy and Algeria will be prioritized.

Libya is also of interest to cargo carriers who plan to start performing air transportation after the normalization of the situation in the state. Among the air cargo carriers ready to fly to Libya after the lifting of the embargo and the lifting of sanctions is the private Ukrainian airline ZetAvia. Also noteworthy is the fact that in September 2021, air traffic with Libya, after a long break, was resumed at once by two states - Malta and Egypt.

It is no secret that Libya's main efforts are currently focused on reviving its own oil industry. Libya expects to achieve this, inter alia, by ensuring the inflow of foreign direct investment. It is expected that investment will be facilitated by the holding of the International Energy Summit in Libya, scheduled for the twentieth of November. It became known that leading international energy companies and service organizations have already shown interest in the upcoming oil and gas summit.

It is also worth noting that earlier, the Minister of Economy and Trade of Libya said that the state budget has lost a trillion dollars.

Tags: libya; france; zetavia; cargo


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