The Minister of Youth, Fathallah Al-Zeni, followed up on the readiness of the branches of the Savings and Real Estate Investment Bank to start implementing the youth and needy families' housing initiative and, starting from mid-January in all Libyan regions.
This came during a meeting with Al-Zeni, who is also a member of the Higher Committee for the initiative, with the Director of the Savings and Real Estate Investment Bank, Mohammed Khanis, who reviewed the steps taken, resolved some of the local bottlenecks facing the bank’s branches to start the executive process of lending, and provided the needs of the bank’s branches to regulate the workflow of the branches as well as follow-up committees, according to a statement issued by the Ministry of Youth.
Al-Zeni reiterated the importance of implementing the initiative, as it targets one of the biggest problems for the Libyan youth and needy families, especially after the implementation of the housing loan program stopped for more than a decade. He stressed the importance of overcoming all obstacles facing the implementation of the initiative.
The Libyan Prime Minister Abdul Hamid Dbeibah launched the initiative on February 20, 2022; during the official celebration of the 11th anniversary of the February 17 revolution, to distribute 100,000 apartments to young people and grant them loans to finish them up. He also distributed pieces of land to young people in various parts of Libya.
Last September, the Government of National Unity announced that the first phase of the youth housing initiative will include 18,000 loans, and nearly 21,000 pieces of land that have completed their procedures.
