Abu Dhabi, UAE – The governments of the United Arab Emirates, the United States, Egypt, France, Germany, Italy, Qatar, Saudi Arabia, Turkey, and the United Kingdom issued a joint statement welcoming the signing of a unified national budget for Libya for 2026.
The ten countries affirmed that this agreement, which took place on April 11, is the first of its kind in more
than ten years and represents a fundamental pillar for ending the economic division between east and west,
and achieving financial stability that serves the aspirations of the Libyan people for prosperity and development.
Strengthening technocratic institutions
The joint statement commended the constructive approach of Libyan leaders in reaching this agreement,
emphasizing that the full implementation of the budget will directly contribute
to preserving the value of the Libyan dinar and the purchasing power of citizens.
The signatory states noted that this step will strengthen vital sovereign institutions,
most notably the Central Bank of Libya, the National Oil Corporation, and the Audit Bureau,
thus paving the way for the influx of international investment and the implementation of infrastructure
projects across the country under transparent financial oversight and international guarantees.
Supporting the energy sector and enhancing security
The statement highlighted the inclusion of the first operational budget for the National Oil Corporation in years,
aimed at increasing oil and gas production and developing the energy sector.
The countries affirmed that raising production levels will not only improve the prosperity of the Libya people
but will also contribute effectively to supporting energy security at both the regional and global levels,
especially given the current tensions in international energy markets.
The agreement also includes strict oversight mechanisms to ensure the efficient use of funds
and their allocation towards sustainable development and inclusive economic growth.
The political process and elections pushed
The ten countries reaffirmed their full support for the United Nations Support Mission in Libya (UNSMIL)
and the roadmap prepared by the Special Representative of the Secretary-General, Hanna Tetteh,
stressing that economic integration is a key driver for advancing the political process.
The statement urged all Libyan parties to capitalize on this momentum to achieve unified governing institutions
and hold inclusive national elections, emphasizing that the international community’s
interest lies in a strong and unified Libya with robust economic, military,
and political institutions, free from negative interference and extremist ideologies.
