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GNC allows CBL to grant loan to Ministry of Finance to address the technical problems encountered by Electricity Company

Pulbished on:
\nTripoli, 27.02.2014 (Lana) GNC allowed Central Bank of Libya to grant a loan of one billion dinars to the Ministry of Finance to address the technical problems encountered by the Electricity Company before the end of February.\nGNC resolution 18/2014 subjected the loan which should be paid to the Electricity Company to article 11 of banks law and other controls such as the Ministry of Finance must pay the loan before the end of the 3th quarter of the financial year 2014.\nThe resolution stated that if the Ministry of Finance did not pay the loan in the set date the Central Bank of Libya may settle it according to available finance in any accounts of the Ministry of Finance.\n=Lana=\n