A Memorandum of Understanding has been signed by the Minister for Foreign Trade and Cooperation of Netherlands, Ms. Sigrid Kaag and Acting Bank Group Libya Country Manager, Mr. Michael Schaeffer, which expresses the intention of the Netherlands and the World Bank Group to support the Government of Libya, to undertake a coordinated program of reforms to strengthen management of public resources in Libya.
As part of this collaboration, the Netherlands intends to make a financial contribution of EUR 2,000,000 to the existing Multi-Donor Trust Fund for “Public Financial Management and Governance Strengthening” managed by the World Bank. The ultimate objective of these efforts is to create a conducive environment for the economic development of the country.
The proposed collaboration aims at supporting the transition process for the State of Libya from conflict and instability to a country that focuses on strong service delivery and good governance practice. It also aims at building the capacity of the Government to operate, manage resources and address medium and long-term policy issues.
The Netherlands and the World Bank Group intend to achieve these goals by sharing knowledge, ideas and lessons learned; pool efforts and expertise; and jointly engage in a dialogue with stakeholders and others interested in funding and supporting these activities.
