Tripoli: The Libyan Development and Reconstruction Fund has announced its rejection of the outcomes from the Economic Track Committee meetings held in Tunisia. The Fund stated that the participants presented as representatives of eastern and southern Libyan cities do not represent them on development and economic issues, and that any results from those meetings are not binding on the Fund.
According to Libyan News Agency, the Fund clarified in an official statement that neither Rifaat Al-Abbar nor Fakher Boufrane represent the eastern and southern regions of Libya regarding development files, the general budget, or the development budget. The Fund emphasized that the current economic track poses an obstacle to the implementation of the national development project.
The Fund highlighted that the eastern and southern regions of Libya are experiencing significant development, including strategic projects in the housing, roads, bridges, universities, hospitals, and schools sectors, alongside the reconstruction
of the city of Derna, under a comprehensive development plan.
The statement noted that the Fund operates within legal frameworks issued by the Libyan House of Representatives, primarily Law No. (1) of 2024 concerning the establishment of the Fund, and Law No. (3) of 2025 concerning the regulation of the development budget, which guide its work and programs.
In its statement, the Fund reiterated its full commitment to applicable legislation and laws, emphasizing its continued implementation of development plans according to a sustainable strategic vision, ensuring prosperity and growth throughout the country.