EU supports economic governance and digital transformation in Libya

E-NABLE” is a new project funded by the European Union to the tune of €5 million, to support key Libyan economic institutions in introducing digital economic governance tools and improving digital services for companies. The three-year project (2022 – 2025) aims to promote an investment-friendly and conducive business environment, strengthen the Libyan private sector and thus contribute to economic growth in Libya.

The newly launched project will focus on three main aspects:

– Strengthen the capacities of the Ministry of Economy and Trade and related institutions in the design of public policies that support reforms and the creation of new businesses, and promote national and foreign investment;

– Accompany Libya in its digital transformation by creating a national digital strategy, digitizing the services and tools of public institutions and increasing the use of digital technologies in Libyan economic institutions;

– Facilitate access to finance by encouraging financial institutions to extend credit and financial solutions to SMEs and creating an enabling environment for microfinance and fintech in Libya.

“The launch of the E-NABLE project is a necessity to help Libyan institutions keep pace with the digital transformation taking place around the world. Digitization is the future as it supports the creation of a vibrant economy and helps sustain a new competitive private sector with good governance”said Mr. Mohamed Al-Huwaij, Minister of Economy and Trade of Libya

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