EU to Support Economic Governance and Digital Transformation in Libya
Tripoli, 18th of May 2022, “E-NABLE”, a new project funded by the European Union, will support key Libyan economic institutions in introducing digital economic governance tools and improving digital services for businesses. The three-year project (2022 – 2025) aims at promoting an investment-friendly and conducive business environment, strengthening the Libyan private sector and thus contributing to economic growth in Libya.
“The launch of the E-NABLE project is a necessity to support Libyan institutions to keep pace with the digital transformation happening in the world. Digitization is the future because it supports the creation of a dynamic economy and contributes to supporting a new competitive private sector with good governance.” said Mr. Mohamed Al–Huwaij, Minister of Economy and Trade in Libya.
“Economic governance going digital is key for Libya’s private sector to develop and the economy to grow. E-governance makes government services quicker and more efficient, so businesses and entrepreneurs can focus on their core tasks: business and innovation.” said EU Ambassador Jose Sabadell at the launch of E NABLE in Tripoli today. “Digitalisation and adapting governance systems to our digitalised world are key priorities for the European Union. We heavily invest in this area in Europe, and cooperate with partners around the world to bring the digital transformation forward – also in Libya.”
The €5M E-NABLE project will be implemented by Expertise France and involve key Libyan economic institutions including, the Ministry of Economy and Trade, Ministry of planning, Ministry of Finance, Central Bank of Libya and the Chambers of Commerce. It will also work with Libyan tech and telecommunication partners such as the General Information Authority, the Libyan Post Telecommunications & Information Technology Company (LIPTIC) and several public and private tech companies. The newly launched project will focus on three main aspects:
- Strengthening the capacities of the Ministry of Economy and Trade and related institutions in designing public policies that support reforms and the creation of new businesses, and foster domestic and foreign investment;
- Supporting Libya in its digital transformation by creating a national digital strategy, digitalizing the public institutions’ services and tools, and increasing the use of digital technologies in the Libyan economic institutions;
- Facilitating access to finance by encouraging financial institutions to extend credit and financial solutions to SMEs and creating a conducive environment for microfinance and fintech in Libya.
“Since 2016, Expertise France has worked alongside the Libyan authorities to support the private sector and entrepreneurship. We are delighted to continue this collaboration by launching this new project that puts e-governance and digitalization in the spotlight and addresses new challenges for Libya. “said Ms. Isabelle Vallot, Head of Financial and Economic Governance Department at Expertise France in Libya.