To create a sustainable and equitable economic recovery in Libya, the European Union (EU) has initiated an investment initiative aimed at promoting the expansion of the private sector, namely in green and digital entrepreneurship.
The Invest4Libya project was formally launched on Monday by the French Embassy, the EU representative to Libya, the Ministry of Finance, and Expertise France, a French government organisation in charge of international technical cooperation.
The project aims to improve the investment climate, strengthen the financial governance of the North African nation, and increase the performance and inclusivity of the nation's micro, small, and medium-sized businesses and entrepreneurial ecosystem, according to a statement.
While the expansion of 4G networks and mobile payment systems has successfully bypassed traditional bureaucratic hurdles and cash shortages, progress remains uneven due to fragmented political authority and regional infrastructure gaps.
“This initiative is vital to strengthening institutional capacity and supporting entrepreneurs, particularly in the green and digital sectors, which are driving innovation and helping shape a thriving Libyan economy,” said Maxime Bost, programs director of Expertise France in Libya.
Nicola Orlando, ambassador of the EU to Libya, added: “Creating a strong investment environment is essential for economic recovery and sustainable growth. Invest4Libya represents a major advance in the partnership between the EU and Libya.
“By supporting reforms in public finance and financial governance and improving conditions for investment, this project reaffirms the EU’s dedication to empowering the Libyan private sector and supporting Libya’s economic development and diversification.”
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