Latest news with #OsamaHamad
Arab News
7 days ago
- Business
- Arab News
Libya's eastern-based parliament passed budget for its development fund
BENGHAZI: Libya's eastern-based parliament voted on Tuesday to approve a budget for its development and reconstruction fund, a parliament spokesperson and member said, although it is unclear if the money will be forthcoming given the country's divisions. The budget of 69 billion Libyan dinar ($12.71 billion) will be spread equally over three years, lawmaker Tarek Jroushi told Reuters, adding that the funds will be overseen by the parliament. Parliament spokesperson Abdullah Blheg earlier announced the approval of the budget in a post on X, without disclosing the budget amount. The fund, established in February last year by the eastern-based House of Representatives, has independent financial status, according to the parliament gazette. However it is unclear if the governor of the Tripoli-based Central Bank of Libya, Naji Issa, will hand over the money for the fund. The central bank, based in Tripoli, is the only internationally recognized depository for Libyan oil revenues, the country's vital economic income. The eastern development fund is headed by Belgasem Haftar, a son of military commander Khalifa Haftar. The Benghazi-based government of Osama Hamad is allied to Haftar, who controls the east and large parts of the southern region of Libya. The north African country's separate Tripoli-based Government of National Unity is headed by interim Prime Minister Abdulhamid Al-Dbeibah, who was installed through a UN-backed process in 2021.
Reuters
7 days ago
- Business
- Reuters
Libya's eastern-based parliament passed budget for its development fund
BENGHAZI, June 3 (Reuters) - Libya's eastern-based parliament voted on Tuesday to approve a budget for its development and reconstruction fund, a parliament spokesperson and member said, although it is unclear if the money will be forthcoming given the country's divisions. The budget of 69 billion Libyan dinar ($12.71 billion) will be spread equally over three years, lawmaker Tarek Jroushi told Reuters, adding that the funds will be overseen by the parliament. Parliament spokesperson Abdullah Blheg earlier announced the approval of the budget in a post on X, without disclosing the budget amount. The fund, established in February last year by the eastern-based House of Representatives, has independent financial status, according to the parliament gazette. However it is unclear if the governor of the Tripoli-based Central Bank of Libya, Naji Issa, will hand over the money for the fund. The central bank, based in Tripoli, is the only internationally recognised depository for Libyan oil revenues, the country's vital economic income. The eastern development fund is headed by Belgasem Haftar, a son of military commander Khalifa Haftar. The Benghazi-based government of Osama Hamad is allied to Haftar, who controls the east and large parts of the southern region of Libya. The north African country's separate Tripoli-based Government of National Unity is headed by interim Prime Minister Abdulhamid al-Dbeibah, who was installed through a U.N.-backed process in 2021. ($1 = 5.4303 Libyan dinars
Libya Observer
26-05-2025
- Business
- Libya Observer
East-based parallel government discusses implementation of Belarus cooperation deals
Ministers from the eastern-based parallel government have held talks with a visiting Belarusian delegation to discuss mechanisms for implementing cooperation agreements signed between the two countries in March. The meeting took place on Sunday in Benghazi and included representatives from both governments, including the Deputy Foreign Minister of Belarus and ministers of agriculture, industry, health, and food industry affairs. According to a statement posted by the parallel government, the discussions aimed to advance bilateral cooperation in sectors such as agriculture, education, industry, healthcare, and geological exploration. The talks follow the recent opening of the Belarusian consulate in Benghazi and are part of efforts to activate a series of memorandums of understanding signed earlier this year by Prime Minister Osama Hamad and Belarus's acting Prime Minister. Areas of cooperation under discussion include the supply of medical equipment and pharmaceuticals, training of healthcare professionals, disaster prevention, and the development of joint projects in mining and food production. Tags: parallel Government Belarus
