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Libya's Audit Bureau and LIIDF agree to reactivate Mitiga Sea Towers project
via Libya Herald1 min read
The Tripoli-based Libyan Audit Bureau and the Libyan Internal Investment and Development Fund LIIDF have agreed to reactivate the Sea Towers project in Tripoli's Mitiga area. This decision followed a meeting where both parties addressed observations from the Audit Bureau and committed to settling outstanding obligations. The goal is to ensure the project's completion adheres to legal and regulatory frameworks. The discussion reviewed the project's financial, technical, and procedural aspects, leading to an agreement on corrective measures to enhance execution integrity and address deficiencies. Both parties also agreed to reactivate the project contract with the implementing company, following agreed procedures, to ensure work compliance with legal and regulatory controls. This initiative aligns with the Audit Bureau's oversight role in monitoring state projects, safeguarding public spending, and promoting adherence to financial and legal regulations, ultimately aiming to improve project implementation efficiency and protect public funds.
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This summary was AI-generated from a story originally published by Libya Herald.
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