During his meeting with Michelle Bradford, the director of the Libyan Economic Acceleration Project, which is technically funded by the U.S. Agency for International Development (USAID), the Minister of Economy and Trade, Mohamed Al-Huwaij, discussed the mechanism of the Libyan Economic Acceleration Project.

This project aims to provide technical support to small and medium-sized enterprises (SMEs) and establish training and development programs for entrepreneurs. It also supports projects through banking and non-banking financing tools under the supervision of the Central Bank of Libya and relevant sectors.

Al-Huwaij called for enhancing cooperation between the ministry and its affiliated entities with those responsible for the project, and for identifying targeted projects and areas. He emphasized the support and development of small and medium-sized enterprises in the southern region to boost economic growth in southern Libya and all other regions, creating new job opportunities.

It is noteworthy that USAID signed an agreement with ATIB worth 2 million dinars to finance projects in the south and provide microloans to companies, with implementation set to begin in early July 2024. The agency will provide technical support while the bank will handle the financing.