The authorities of eastern Libya announced on Wednesday the creation of a fund for the reconstruction of Derna, a town devastated by deadly floods where a conference is to take place on October 10 to prepare the first “projects “.
In a statement, the eastern government said it had given its “approval to the creation of a fund for the reconstruction of the city of Derna and the areas affected” by the floods of September 10.
Although not recognized internationally, the executive also “confirmed” the holding on October 10 in Derna of an “international conference” of reconstruction, announced on September 22.
This “conference” will be “open to international companies”, said the Eastern government on Wednesday, which had initially called on the entire “international community” to participate.
The rival government recognized by the UN and based in the capital Tripoli (west) has so far ignored these announcements and has not said whether or not it will send representatives there.
For its part, the Benghazi executive did not specify how the new fund would be financed but the Parliament, also based in the East, has already allocated 10 billion dinars (1.9 billion euros) to projects of reconstruction.
Wracked by divisions since the fall of Muammar Gaddafi in 2011, Libya is governed by two rival administrations: one in the West led by Abdelhamid Dbeibah, the other in the East, embodied by Parliament and affiliated with the camp of Marshal Khalifa Haftar.
“Institutionally”, the authorities of the East “do not exist since they are not internationally recognized”, therefore “it is unlikely that countries will give money to the East”, stressed the AFP Jalel Harchaoui, Libya specialist at the British Royal United Services Institute (RUSI).
“In all likelihood, the funds (international, editor’s note) should go through Tripoli,” he said, stressing that the Dbeibah government was seeking to take advantage of the drama to unlock Libya’s foreign assets and investments.
Totaling tens of billions of dollars and managed by the sovereign fund Libyan Investment Authority (LIA), these were placed under sequestration in 2011 by the UN to avoid misappropriation.
The floods, caused by storm Daniel and amplified by the rupture of two dams upstream of Derna, left 3,893 dead, according to a final provisional report communicated Tuesday by the eastern government.
