The United States Agency for International Development (USAID) announced the launching of a project program worth $15 million to accelerate the pace of the Libyan economy in “marginalized communities, and explained in its bulletin that this program extends from 2022 to 2026, and it is the first program of the USAID to be based in the south and to work with entrepreneurs, small and medium enterprises in “marginalized communities” to promote comprehensive economic growth, enhance the competitiveness of the private sector, and develop community cohesion.
USAID said that this project was fully funded under the United States strategy to contribute to preventing conflict and promoting stability in southern Libya through local companies and organizations, which ultimately provides the basis for peace and reconciliation efforts.
USAID added that this program provides assistance to a diverse group of young Libyan entrepreneurs to enhance innovation and develop viable businesses.
The program also works to provide customized assistance to small and medium-sized enterprises to enhance productivity, increase sales, and create high-quality job opportunities in the enterprise economy by facilitating access to financing through partnering with banks and financial institutions to provide microfinance, while expanding access to business financing in the southern region.
