Tripoli: The United Nations Support Mission in Libya (UNSMIL) has expressed its support for the recently announced Unified Development Programme agreement, as revealed by the Governor of the Central Bank of Libya on Tuesday.
According to Libyan News Agency, the agreement, which was signed by representatives of the House of Representatives and the High Council of State, is designed to bolster financial stability through the implementation of spending controls and advance the unified development process. UNSMIL emphasized that, if implemented transparently and in accordance with Libyan legislation and international standards for public financial management, the agreement could significantly contribute to economic stability in Libya.
The mission also lauded the Central Bank of Libya’s role in supporting the agreement’s execution, highlighting the importance of directing development funding through sound financial planning and transparent procedures. The mission underscored the necessity for sovereign institutions with oversight responsibilities to function independently, applying unified standards across Libya, and ensuring adherence to international best practices in public financial management. It urged all parties to view the agreement as an initial step, stressing the importance of continued dialogue to achieve a unified national budget and strengthen efforts to unify state institutions.
Furthermore, the mission emphasized that progress in financial governance should be rooted in institutional cooperation. UNSMIL looks forward to the transparent and accountable implementation of this agreement, which aims to benefit all Libyans and facilitate an inclusive political process in line with the roadmap guided by UNSMIL.