WB recognizes Libya's National Transitional Council

PanARMENIAN.Net - The World Bank on Tuesday, September 13 said it officially recognized the ruling National Transitional Council as Libya's government and had been asked to help lead efforts to restore vital services and develop jobs programs as the country tries to return to normal after a six-month war.

"As Libya begins its recovery from conflict, the World Bank has been asked to lead the effort in the areas of public expenditure and financial management, infrastructure repair, job creation for young people and service delivery," the poverty-fighting institution said in a statement.

The Bank said it had been asked to repair services in the water, energy and transport sectors and, in cooperation with the International Monetary Fund, to help prepare the country's budget and restore the banking sector, according to Reuters.