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Tuesday 15 June 2021
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Int’l group to help Libya repatriate ‘stolen’ money hidden abroad

Libya’s Foreign Affairs Deputy Minister, Abdelrazack Al-Kuwaydi, on Wednesday met with a delegation of the international group, ‘Initiative Star’, to discuss ways of repatriating Libya’s money stolen money and lodged in banks abroad.

The spokesman of the Foreign Affairs ministry, Badr Al-Dinne Al-Ghaylouci, said the meeting involving the minister is an attempt to track the money deposited in foreign banks by officials of the Mouammar Kadhafi regime in a bid to repatriate it for the benefit of Libyan people.

Addressing the media, the spokesman said Initiative Star had already given Libyan authorities all the guarantees in tracking the misappropriated money and putting in place a mechanism so that all the bank accounts opened abroad can be identified.

Initiative Star was created in 2008 and jointly managed by the World Bank and the United Nations’ Office against Drug and Crime (UNODC). It is aimed at helping developing countries repatriate ill-gotten gains hidden abroad.

It is also highly dedicated in the fight against poverty in developing countries through funding social projects and programmes aimed at reducing the lot of the poor


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