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World Bank recognizes TNC as Libya lawful govt

September 13, 13:54 UTC+3
The WB is willing to help TNC in its efforts, aimed at establishing control over state expenditures, managing financial resources, restoring the infrastructure
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WASHINGTON, September 13 (Itar-Tass) — The World Bank (WB) has officially recognized the Transitional National Council (TNC) of Libya as the only lawful government of that country, and expressed willingness to help it restore the national economy, says a report of the World Bank, which was circulated here.

The WB is willing to help TNC in its efforts, aimed at establishing control over state expenditures, managing financial resources, restoring the infrastructure and creating new jobs, while the country overcomes the consequences of the conflict, the report said.

The assistance will be rendered to TNC together with the International Monetary Fund, said WB Managing Director Mulyani Indrawati. Previously IMF had also recognized the legitimacy of TNC and had promised to render technical and material assistance to the new Libyan authorities in the restoration of the banking sector of the national economy.

 

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