Last week, Libya's Ministry of Finance, in partnership with the United Nations Resident Coordinator's Office and the United Nations Development Programme (UNDP), convened a High-Level Policy Dialogue on Innovative and Sustainable Financing for Development in Tripoli. The event brought together government institutions, financial institutions, development partners, private sector representatives, the diplomatic community and civil society to explore practical ways to mobilise sustainable financing in support of Libya's national development priorities.
The dialogue highlighted the growing importance of diversifying financing sources beyond traditional public funding. Discussions focused on strengthening collaboration between government, the private sector and international development partners to attract greater investment, improve domestic resource mobilisation and expand innovative financing mechanisms that can help accelerate progress towards the Sustainable Development Goals (SDGs).
Speaking during the event, H.E. Mustafa El-Barouni, Deputy Minister of Finance, reaffirmed the Ministry's commitment to strengthening partnerships between regional and international financial institutions and Libya's private sector. He noted that expanding access to innovative financing instruments would help unlock investment opportunities, support sustainable development and strengthen the role of the private sector in driving economic growth.
Ulrika Richardson, Deputy Special Representative of the Secretary-General and UN Resident Coordinator in Libya, emphasised that financing for development is not only about securing additional resources but also about using them more effectively, transparently and equitably. She called for coordinated action to move from addressing financing gaps towards developing practical financing solutions that deliver measurable results for the Libyan people.
Dr Sophie Kemkhadze, UNDP Resident Representative in Libya, highlighted that achieving long-term development ambitions requires both sustainable financing and strong partnerships. She stressed that innovative financing approaches can attract new investment, strengthen cooperation across sectors and better align financial resources with Libya's national development priorities, ultimately supporting inclusive and sustainable development.
The dialogue forms part of Libya's broader efforts to strengthen collaboration between government institutions, development partners and the private sector in advancing sustainable financing solutions that support the country's long-term development agenda and the Sustainable Development Goals (SDGs). By encouraging greater participation from private investors and international financial institutions, the initiative aims to create a more investment-friendly environment, unlocking new opportunities across key sectors. For Libya's energy sector in particular, improved access to innovative financing could accelerate investment in infrastructure, diversification and long-term resilience, further supporting economic growth and sustainable development.
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