The Economic Working Group of the International Follow-Up committee on Libya Convenes to Assess the Economic Situation and Areas of International Support
On 11 May, Egypt, the European Union, UNSMIL and the United States, as co-chairs of the International Follow-up Committee on Libya’s Economic Working Group, convened a virtual plenary meeting where they discussed how to leverage the expertise of the international community and the Libyan Economic Expert Commission as resources to support the Government of National Unity, Parliament, and other relevant Libyan institutions as they work to meet the economic challenges created by years of division and conflict.
Participants underscored the priority of delivering core basic services to the Libyan people, strengthening economic institutions, revitalizing the private sector, and improving the budget process while stressing their full respect for Libyan sovereignty. The Economic Working Group co-chairs recognized that the Libyan government and the international community should work together to achieve shared goals leading to accelerated development, increased employment in the private sector, and an improved standard of living for the Libyan people.
Plenary members also reiterated their commitment to support the Government of National Unity as it begins to rebuild the country. Among the many ongoing economic programs to support Libya, the World Bank, UN and EU can offer to support the Unity Government with a “Recovery and Peace-Building Assessment (RPBA)”, as a tool to review and prioritize development needs to support the country’s reconstruction.