Contacts: In Washington: Cecile Fruman, (202) 458 0166 cfruman@worldbank.org In Morocco: Najat Yamouri, +212 37 63 60 50 nyamouri@worldbank.org WASHINGTON, July 20, 2007 — The World Bank and the National Planning Council (NPC) of the Socialist People’s Libyan Arab Jamahiriya signed a Technical Cooperation Agreement for a Joint Economic Advisory Program to support and further Libya’s reform process. The Technical Cooperation Agreement is initiated for the period from July 1, 2007 to June 30, 2008 with a total budget of US$ 1,000,000, contributed jointly by the World Bank and the NPC. Through this agreement, the World Bank will provide the Socialist People’s Libyan Arab Jamahiriya with technical assistance in the economic and social fields. The activities that will be implemented during this first working period of the Joint Economic Advisory Program are based on sectors that the National Planning Council considers as high priorities. They include: i) a review of public expenditures in social and infrastructure sectors, with a view of providing policy advice to enhance efficiency and effectiveness of these expenditures; ii) a review of the investment climate and private sector development; and iii) technical assistance in sectoral strategies and reform design and in other areas as defined and requested by the National Planning Council. The NPC will make a seventy-five per cent (75%) contribution to the total cost of the Joint Economic Advisory Programduring this first working period (July 2007 - June 2008) and subsequent years. The World Bank and the NPC will, at the beginning of each working period, agree on the studies and related activities to be included in the annual program. “This Technical Cooperation Agreement sets the stage for a fruitful assistance between the World Bank and Libya. The World Bank hopes to make a meaningful contribution in assisting Libya with its economic transition process, towards the objective of transforming its oil wealth into sustainable development that benefits all its citizens,” commented Mr. Theodores Ahlers, World Bank Country Director for Algeria, Libya, Morocco and Tunisia. # # # For more information, please visit: www.worldbank.org/ly |
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