The Libyan Investment Authority (LIA), Libya’s main Sovereign Wealth Fund, reported yesterday that its chairman, Ali Mahmoud Hassan, had met on the same day with the Ambassador of Japan to Libya, Shimmura Izuru, to discuss the related issues of the frozen funds by the UNSC resolutions. The meeting, the LIA highlighted, comes as Japan chairs the Sanctions Committee regarding Libya during 2023-2024. During this meeting, it reported, the two parties discussed the latest updates related to the investment plan submitted to the Security Council Committee established pursuant to Resolution 1970 (2011) regarding Libya. This included the LIA’s vision, strategic objectives, and promising opportunities provided by the investment plan to develop Libya’s economic performance. The meeting also discussed the negative impact of the current freezing measures imposed on the assets of the Libyan Investment Authority, especially considering the rapid growth of global markets, the LIA said.

Source: Libya Today June 12, 2024 17:56 UTC