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The World Bank yesterday (Tuesday, September 13) announced that it is dealing with the Transitional National Council (TNC) as the Government of Libya. Managing Director Sri Mulyani Indrawati said that the Bank is ready to support the Libyan people. Its experts – who will be working with UN, EU and Arab partners – are “are moving fast to begin work”, he added. Reflecting the concerns of the TNC officials with whom the Bank had met, the latter would be paying particular attention to accountability, transparency and participation.
Press release 2012/064/MENA explains that this decision was based “on evolving events in Libya and the views of member countries”. Now that Libya was beginning to recover from the conflict, the statement says “the World Bank has been asked to lead the effort in the areas of public expenditure and financial management, infrastructure repair, job creation for young people and service delivery.”
The Bank, the press release states, was specifically requested by the TNC “to examine the need for repair and restoration of services in the water, energy and transport sectors and, in cooperation with the International Monetary Fund, to support budget preparation and help the banking sector back on to its feet.” The TNC, the release notes, also regards creating jobs for young Libyans as an urgent priority.
Read the official release in English and Arabic.
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