French firms strike major development deals with LRF

In a significant boost to Franco-Libyan economic cooperation, French companies have secured two landmark agreements with the Reconstruction Fund in Benghazi, the French Embassy announced today.

The memoranda of understanding, signed during a high-level French trade delegation visit, establish partnerships between the Reconstruction Fund and two prominent French entities: Business France, the national agency supporting international business development, and InfraNum, a consortium representing more than 200 companies building digital infrastructure in France.

These agreements mark the culmination of a two-day trade mission on 26-27 November, representing the fourth such French delegation to Libya in two years. Previous diplomatic and commercial engagements have included visits to Tripoli, Benghazi, and the disaster-struck city of Derna.

The visiting delegation comprised firms specialising in critical sectors vital to Libya’s reconstruction efforts, including infrastructure development, water management, healthcare systems, and sustainable development initiatives.

During their visit, representatives engaged in detailed discussions with the Libyan Development and Reconstruction Fund and local enterprises to explore collaborative opportunities.

“These partnerships represent a significant step forward in Franco-Libyan economic relations,” said a senior French embassy official to Libyan Express.

The agreements are expected to facilitate knowledge transfer and technical expertise in Libya’s ongoing reconstruction efforts.

The collaboration comes at a crucial time for Libya’s development agenda, as the nation works to rebuild its infrastructure and modernise its public services.

Industry analysts suggest these partnerships could potentially unlock substantial investment opportunities and technical assistance for Libya’s reconstruction programmes.

Local economic experts view these agreements as potentially transformative for Libya’s infrastructure development, particularly in the digital sector, though specific project details and implementation timelines are yet to be announced.

The partnerships build upon existing bilateral relations and underscore France’s growing economic interest in Libya’s reconstruction, following similar initiatives in recent years aimed at strengthening commercial ties between the two Mediterranean nations.