AIB

A group of six African countries have agreed to join the Libyan-based African Investment Bank (AIB), Advisor to the governor of Libya's Central Bank (CBL), Mustafa Al-Manea, has confirmed, citing sources from the AIB founding committee.

The committee has recently held a meeting to discuss a strategy for ratifying the agreement establishing the AIB, which the international consulting office KPMG prepared at the invitation of the African Union Commission.

Manea told the Hakomitna platform that the new membership of the six African states was architected in coordination with Libya's Ministry of Foreign Affairs, noting that work is underway to include other countries in the bank.

In its 3rd regular meeting, the committee reviewed the report of Ghanaian President Nana Akufo-Addo/ Chairman of the AU Financial Institutions, which he put forward during the AU 36th session in Addis Ababa last February.

It may be worth noting that the AU had approved the establishment of the AIB with its HQ in Libya during its 2008 round in Nigeria.

Earlier, Prime Minister Abdul Hamid Dbeibah instructed the formation of a founding committee to implement the AU's relevant decision, highlighting the importance of such an institution to the continent.

The majority of African heads of state praised Dbeibah's initiative to activate the resolution issued in 2008, deeming it a significant step for Libya to regain its central role in the African arena.