Governor of the Central Bank of Libya discusses the role of banking sector in providing financing to complete stalled housing projects and achieve comprehensive urban development
Mr. Naji Mohammed Issa, Governor of the Central Bank of Libya, held a broad meeting to discuss the mechanisms for completing housing units that have been stalled since 2010, as well as the role of the banking sector in supporting the National Housing and Development Program. The meeting was attended by the Director General of the National Housing and Development Program, along with his technical team, and included the participation of several members of the Board of Directors and directors of relevant departments.
The discussion focused on assessing the financing needs required to complete these projects, considering the significant shortage in housing supply and the rising prices in the Libyan housing market. The Governor welcomed the idea of resuming work on these projects, stressing that the banking and financial sector in Libya will play a pivotal role in financing these initiatives and transforming them into investment opportunities that help reduce the housing gap and provide suitable housing for all citizens across various segments, thereby enhancing both social and economic stability.
The meeting also reaffirmed the importance of enabling citizens to access adequate housing through a comprehensive vision shared by both the public and private sectors. At the conclusion of the meeting, it was agreed to organize an expanded workshop that brings together all relevant entities and institutions, with the aim of developing a clear implementation plan for this strategic project, which is expected to benefit all citizens across the nation.