5 days ago
Libya's eastern-based parliament passes budget for development fund
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 (R225bn) 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.
