In a notable development signaling Libya’s return to the international economic stage,the Tripoli-based Government of National Unity (GNU) has formalized a partnership with the World Bank through a Memorandum of Understanding (MoU) signed in Washington,D.C.
The agreement,focused on rebuilding institutional frameworks and accelerating reform efforts,marks a key turning point after years of limited engagement between Libya and the international financial institution. It comes as part of a broader initiative to rebuild trust and cooperation,following more than a decade of conflict and fragmentation.
The accord stems from earlier discussions held in February 2025 between Prime Minister Abd Alhamid Aldabaiba and World Bank Vice President for MENA,Othman Dion. Through this framework,Libya is set to receive technical guidance in areas such as public finance reform,digital innovation,private sector expansion,and economic governance.
The deal also places a strong emphasis on youth empowerment,with structured programs to endow young Libyans with employable skills and integrate them into emerging sectors of the national and regional economy.
The signing ceremony was attended by a broad cross-section of Libyan officials representing finance,energy,trade,and investment institutions,reflecting the government’s whole-of-government approach to the partnership.
World Bank representatives with expertise in development,infrastructure,and finance also participated,underscoring the depth of cooperation envisioned. This renewed engagement comes amid a flurry of high-level diplomatic activity,as Libya seeks to leverage the momentum of the 2025 Spring Meetings of the World Bank and IMF to attract investment and technical support for its stabilization and reconstruction goals.
United News - unews.co.za