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Libyan proposal to transform electricity subsidies into sustainable solar energy investment
via Libya Herald3 min read
Naaman Elbouri, a former banker and current fintech CEO, proposes a national initiative to convert Libya's electricity subsidies into sustainable solar energy investments. This comes in response to increasing power cuts, a recent blackout affecting a vast area from Misrata to the Egyptian border, and the government's diversion of electricity from industries. The Prime Minister, Abdel Hamid Aldabaiba, has acknowledged billions spent on the electricity sector without resolving power issues. Elbouri suggests the Central Bank of Libya launch an initiative by providing commercial banks with credit lines equal to the annual GECOL subsidy. These banks would then offer concessional loans to citizens for purchasing and installing home solar energy systems, repayable over ten years. This approach aims to reduce pressure on the public grid, limit outages, decrease government spending, and create jobs in the solar energy sector. The proposal highlights sustainable financial savings by shifting government spending from operating expenses to productive assets and easing GECOL's financial burden. The implementation mechanism involves long-term credit lines from the Central Bank and concessional loans from commercial banks, with the solar system serving as collateral or payments collected from salaries. Challenges include securing initial financing of $3,000-$6,000 per household and ensuring quality through standardized technical specifications and licensed companies. The initiative is prese
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This summary was AI-generated from a story originally published by Libya Herald.
Benghazi University's Business Incubator, in collaboration with the Roaya Foundation for Digital Economic Development and Strategic Studies, has launched the 'Nawat - Tech Venture 2026' competition. This initiative aims to identify innovative technology projects and prototypes from students, graduates, programmers, and entrepreneurs. The program seeks to connect these innovators with potential investors and companies, providing a platform to showcase their work and facilitate direct engagement for investment opportunities.
The Samsung Innovation Campus program and the Office of the Minister of State for Digital Economy and Artificial Intelligence have signed a cooperation agreement to train Libyan youth. The agreement, signed by Minister of State Ziad Al-Hajjaji and the program's regional director, aims to empower 150 young men and women across Libya with digital skills and artificial intelligence knowledge. This initiative is part of the Prime Minister's program to build youth capacity in AI and seeks to enhance their readiness for the labor market and future economy. The virtual program, running from August 11 to October 6, 2026, will utilize live interactive sessions and self-paced learning. It is a global initiative Samsung has implemented in 42 countries since 2019, aligning with efforts to expand partnerships and support national capacity-building in digital transformation and AI.
Ahmed Mlitan, Head of the Department of Support and Development of Medical Services DSDMS, met with the Italian San Donato Group in Tripoli to discuss developing Libya's health sector. The discussions focused on training medical personnel and preparing proposals for the management and medical operation of health centers and facilities. This visit is part of a series by the Italian delegation to assess equipment and capabilities at health facilities, aiming to create a comprehensive development plan aligned with the Prime Minister鈥檚 "Return to Life" project. The visit included a technical tour of Tripoli University Hospital to evaluate its status and equipment, and a study of Tripoli Medical Hospital to assess operational potential. These efforts are in line with an agreement between the DSDMS and the Italian side to improve healthcare quality for citizens. Gruppo San Donato GSD is Italy鈥檚 largest private healthcare network, operating 19 hospitals and serving over 5.4 million patients annually. The DSDMS, part of the Prime Minister's Office, leads reforms in Libya鈥檚 health sector.