Central Bank discusses financing housing projects stalled since 2010
The Governor of the Central Bank of Libya, Naji Issa, has discussed with the Director General of the National Housing and Real Estate Development Programme, mechanisms for completing housing projects that have been stalled since 2010.
During a meeting held on Thursday, the two sides also assessed the financing needs necessary to complete these projects, given the significant shortage in the supply of housing units and their high prices in the Libyan market.
Governor of Central Bank emphasized that the banking and financial sector in Libya will play a pivotal role in financing these projects and transforming them into investment opportunities that contribute to reducing the population gap and providing adequate housing for all citizens of all categories, thus enhancing social and economic stability. Economy Tagged: Central bank of Libya
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Libya Observer
19 hours ago
- Libya Observer
Libyan and Turkish energy ministers discuss expanding oil and gas cooperation
Libya's Minister of Oil and Gas, Khalifa Abdel Sadek, held talks with his Turkish counterpart, Minister of Energy and Natural Resources Alparslan Bayraktar, to explore avenues for strengthening bilateral cooperation in the energy sector. According to the Libyan Ministry of Oil and Gas, the meeting, held in Istanbul, focused on opportunities for collaboration in offshore and onshore oil and gas exploration, as well as the rehabilitation and development of oil and gas fields. The two sides also discussed the potential role of Turkish companies in hydrocarbon projects and infrastructure development within Libya's energy sector. The talks highlighted the importance of knowledge exchange and learning from Turkey's experience in the field, with the aim of achieving mutual benefits and supporting the stability and growth of Libya's energy sector. The ministry emphasized that the meeting is part of ongoing efforts to boost regional and international partnerships, supporting energy transition and sustainability goals. Tags: Minister of Oil and Gas Turkey
Libya Observer
19 hours ago
- Libya Observer
Economy Ministry warns against speculation on the Dinar, assures gradual stability of exchange market
The Ministry of Economy and Trade in Libya's Government of National Unity issued an official warning on Sunday, cautioning against engaging in speculative activities targeting the Libyan dinar exchange rate. The ministry stressed that such practices would only lead to losses, citing similar outcomes observed over the past five years. In its statement, the ministry stressed that Libya's financial position remains robust, rendering speculative attempts ineffective. It added that the Central Bank of Libya (CBL), in coordination with relevant economic authorities, is moving ahead with a comprehensive monetary restructuring plan, expected to be officially launched at the beginning of the fourth quarter of this year. The ministry noted that recent fluctuations in parallel market exchange rates do not reflect actual foreign currency demand. Instead, they stem from manipulation involving old banknotes being withdrawn from circulation, leading to the emergence of a secondary market that distorts the real exchange rate. The statement also referenced an official letter from the Central Bank Governor to the Minister of Interior, dated 23 June 2025, which granted formal authorization to more than 132 currency exchange offices and companies. These entities are expected to begin operations soon as part of a broader effort to organize the exchange market and gradually dismantle the parallel market. The ministry vowed to draft an upcoming list of newly approved companies. Additionally, the ministry revealed that monetary authorities are preparing to launch a new financial product aimed at directly reducing prices in the informal market and encouraging transactions through legal channels only. The Ministry of Economy and Trade urged citizens, importers, and traders to exercise caution, warning against heeding rumors or unofficial advice in the currency market. It emphasized that economic stability is a shared responsibility, beginning with public awareness and ending with the strict enforcement of official policies.
Libya Observer
19 hours ago
- Libya Observer
NOC affirms Libya's sovereign rights over Eastern Mediterranean resources
The National Oil Corporation (NOC) has reaffirmed its commitment to Libya's sovereign rights over the resources of the Eastern Mediterranean within Libyan borders. In a statement, the corporation affirmed its commitment to implementing exploration programs to protect Libya's sovereign rights and national interests in exploring and developing hydrocarbon resources, including in the Eastern Mediterranean. The statement clarified that all agreements and partnerships concluded by the Libyan state are based on the principles of international law and serve the long-term interests of the Libyan people. Economy Tagged: National Oil Corporation maritime borders
