During its third regular meeting, the founding committee of the African Investment Bank discussed the strategy for ratifying the agreement establishing the Bank. It was prepared by the international consulting office KPMG at the invitation of the African Union Commission to strengthen the guarantee for the establishment of the banking. This was in the presence of the Advisor to the Governor of the Central Bank of Libya, Mustafa Al-Manea, and the State Minister for Prime Minister and Council of Ministers Affairs and member of the committee, Adel Jumaa.

The meeting reviewed the report of the Ghanaian President Advocating Financial Institutions of the African Union at its 36th session, which was held in Addis Ababa last February.

Al-Manea confirmed that the founding committee, in coordination with the Ministry of Foreign Affairs of the National Unity Government, obtained the ratification of 6 African countries, noting that work is underway to coordinate with the rest of the African countries.

For his part, Adel Jumaa affirmed the government’s keenness and full support with all its ministries and agencies, in order to achieve this national and continental entitlement.

It is noteworthy that the African Investment Bank was established at the African Union summit held in Nigeria in 2008, with Libya as its headquarters.

This came in implementation of the decision of the Prime Minister of the National Unity Government, Abdul Hamid Dbeibeh, No. 319 of 2022, requiring the formation of a founding committee for the bank to activate this decision due to the importance of this African economic institution, and for Libya to undertake the establishment initiative.