The European Union, in collaboration with the Libyan Ministry of Finance and Expertise France, has officially launched the Invest4Libya project. This initiative aims to bolster Libya's financial governance, enhance its investment climate, and stimulate the growth of micro, small, and medium-sized enterprises (MSMEs) and the broader entrepreneurship ecosystem.
In a nutshell
Strengthens public financial management and transparency.
Modernises financial markets and promotes digital and green finance.
Boosts the private sector, particularly MSMEs and entrepreneurs.
Aims to foster sustainable and inclusive economic recovery in Libya.
Strengthening Financial Governance
The Invest4Libya project is designed with a holistic approach to support efficient and transparent public financial management. It seeks to modernise Libya's financial markets and stimulate private sector growth, with a particular focus on digital and green entrepreneurship. This initiative is intended to lay a robust foundation for the country's sustainable and inclusive economic recovery.
Dr. Khaled Almbarouk, Libya's Minister of Finance, stated, "Invest4Libya represents an important step in advancing public financial management and strengthening Libya’s economic foundations." He further emphasised that the project's focus on improving transparency and supporting private sector development aligns with national priorities, expressing appreciation for the EU partnership.
Pillars of the Initiative
Funded primarily by the European Union with additional support from the French government, Invest4Libya is implemented by Expertise France and is structured around three strategic pillars:
Public Financial Management Reform: This pillar aims to enhance fiscal transparency, spending efficiency, and accountability, with support for the Ministry of Finance and the Audit Bureau.
Financial Sector Governance & Modernisation: This involves strengthening regulatory frameworks to promote financial inclusion and integrate digital and green finance into national policy, in collaboration with the Central Bank of Libya and the Ministry of Planning.
Entrepreneurship & MSME Support: This pillar focuses on developing Libya’s private sector by empowering incubators, accelerators, and MSMEs, and connecting them with investors, expertise, and supportive policies.
A Collaborative Effort
These pillars are designed to work cohesively, linking high-level policy reform with practical implementation. Key partners include the Ministry of Finance, the Central Bank of Libya, and the Audit Bureau, with close cooperation from the Ministry of Planning, the Ministry of Higher Education and Scientific Research, and the Ministry of Environment. The project also engages public and research institutions, private sector bodies, and business incubators to ensure broad institutional alignment and national impact.
H.E. Mr. Nicola Orlando, Ambassador of the European Union to Libya, highlighted the project's significance, stating, "Invest4Libya represents a major advance in the partnership between the European Union 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."
Driving Innovation and Growth
Expertise France, which has supported Libya's economic development for a decade, expressed enthusiasm for forming new partnerships through Invest4Libya. Mr. Maxime Bost, Programs Director of Expertise France in Libya, commented, "This initiative is vital to strengthening institutional capacity and supporting entrepreneurs, particularly in the green and digital sectors, who are driving innovation and helping shape a thriving Libyan economy."
Building on previous successes in governance and digitalisation, Invest4Libya bridges policy reform with actionable outcomes. By removing regulatory obstacles and empowering local incubators, this partnership is a crucial step towards modernising the national economy and unlocking Libya's potential for a more digital, diversified, and inclusive future.
