Libya's Minister of Finance, Al- Kilani Abdelkarim Al-Kilani Al-Jazi, announced during the African Development Bank's Annual Meetings in Marrakech that his country would join the donor countries' group of the African Development Fund (ADF).
"First of all, I would like to thank the AfDB for having given the new Libya this opportunity to present its point of view on the issue of African cooperation.
"The decision by post-February 17 revolution Libya to take part in the African Development Fund is guided by the conviction that intra-African relations should belong to the people and the states, and not to individuals. This implies that cooperation instruments should be based on transparency and professional expertise.
"Libya, as an African country concerned with the development of the continent, chose this path rather than that of direct foreign aid which can turn into personal grants.
"The new Libya adheres to a new effort whereby the aid provided to African countries involves transparent and professional institutions which assure the common interest of the African people. This is why we have decided that the aid that Libya is ready to provide to the African people will be provided through the AfDB group, and notably the ADF."
Though a founding member and relatively large shareholder of the African Development Bank, Libya has never borrowed from the Bank Group. Hence, the Bank Group's operational engagement with the country has been limited to non-lending activities, mainly studies.
