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2012-03-14

Libya, Islamic Development Bank ink agreement

Libya and the Islamic Development Bank signed a Memorandum of Understanding on Monday (March 12th). The framework co-operation agreement "will be supportive and helpful to the people of Libya and their government during this transition", Islamic Development Bank (IDB) president Ahmad Mohamed Ali told Magharebia after the Tripoli signing ceremony.

Under the agreement signed by Interim Prime Minister Abdurrahim El Keib and the IDB chief, working groups will be set up to address infrastructure, housing, Islamic banking and training partnerships between Libya and IDB member states.

Member states such as Malaysia have expressed interest and willingness to co-operate with the Libyan government for the transfer of technology in various fields.

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