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2014-2016 - Libya - Country Re-Engagement Note

19-Jun-2014

Since becoming a member in 1972, Libya has been one of the African Development Bank’s (AfDB or the Bank hereafter) largest shareholders with a subscribed capital of 4.057% as of December 31, 2013. More recently, in 2013, Libya has pledged USD 37 million in contribution to ADF-13. Historically, however, the Bank’s engagement in Libya has been limited mainly due to the country’s significant foreign exchange earnings from oil and gas exports and, hence, limited need for borrowed funds.

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