$400m may be Allocated to Revolutionaries' Businesses

Libya Herald reports that the Warriors Affairs Commission is preparing to launch a potentially ground-breaking programme to kick-start Libya’s faltering private sector and reintegrate former revolutionaries into society.

If the Zeidan Government gives the green light, LD 500 million ($400 million) will be set aside to assist 5,000 former fighters to establish their own small-to-medium enterprises (SMEs), either as individuals or in groups. Each revolutionary will be eligible for a maximum of LD 100,000 ($80,000).

Entitled Project Ambition (Tomouh), the initiative was first conceived over the summer, but failed to gain traction with the former Kib Government.

WAC Managing Director Mustafa Elsagezly said:

"We will partner with the best international expertise such as the World Bank, the Islamic Bank of Development and the best training and educational institutes worldwide."

Project manager Mohammed Zway says that, all being well, a pilot system should be up and running within the next three months, with government funding for the main programme coming into place as soon as possible after that.

Asked how they would prevent misappropriation of funds, and also how they can accurately determine who was a revolutionary and who were not, WAC officials insist they have the necessary mechanisms in place.

(Source: Libya Herald)

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