LAIP lifts reservation on Ledger Plaza Bangui

In Bangui, the capital of the Central African Republic, the Libya Africa Investment Protfolio (LAP) has succeeded in lifting the reservation of the 5-star hotel “Ledger Plaza Bangui ” owned by the portfolio.

An official from the portfolio told Ean Libya outlet that this comes as a culmination of efforts made by the portfolio and other relevant authorities since the Central African authorities announced offering Libyan investments for auction in February.

According to the source, the reservation on the Libyan hotel in Bangui was removed after a deposit was made in the Sahel-Sahara Bank with the value of the loan, which was due on May 8. Following a settlement between the bankers, the mortgage on the hotel was released after the interest and principal were cancelled.

Libyan Africa Investment Portfolio is one of the investment funds of the Libyan Investment Authority. A total of $5.3 billion US dollars were invested in 2006, of which 75% were allocated to investments across the African continent, given the promising investment opportunities there. A total of 25% is invested in European countries and markets to diversify the portfolio.