Libya to Issue Progress Payments to Turkish Contractors

The Libyan Prime Minister, Abd al-Rahim Al-Keeb [Al-Kib, Al-Keib] (pictured), has reportedly issued a directive whereby Turkish contractors doing business in Libya would immediately receive half of the payments due to them.

In a written statement released on Sunday, Turkish Economy Minister Zafer Caglayan said that Libya would immediately pay 50 percent of the progress payments due to Turkish contractors and that the contractors could resume construction activities shortly.

While the precise figure involved is not yet clear, Libya Herald reports that at the start of the revolution $1.4 billion of contractual payments was owed to Turkish firms. Earlier this year, the interim prime minister agreed to pay $400 million of this outstanding debt.

The news agency was unable to confirm with the Turkish economy ministry whether this money has already been paid or is included in the $700 million that is due to be paid straight away.

(Sources: Turkish Weekly, Libya Herald)

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