National Oil Corporation and Libyan Foreign Bank discuss project financing

The meeting focused on financing mechanisms for several NOC-proposed projects, including infrastructure development, increased storage capacity, and initiatives to enhance operational efficiency and boost production rates. The NOC seeks this financing outside the state budget. The LFB is a natural fit for this, as it receives all of the NOC's oil and gas export revenues before transferring them to the Central Bank of Libya.

It remains unclear whether the LFB's decision will be financial or political, or if the financing will be based on Islamic Sharia Murabaha or interest-charging terms.