Libya: Identifying action to improve access to finance for SMEs and Private Sector Development
The scope of the project was to
- conduct a preliminary assessment of the banking sector in Libya and more in general on the available sources of finance for local SMEs;
- identify the conditions, the modality of support to prepare and develop efficiently the private sector environment and access to finance conditions in Libya.
The assessment allowed us to formulate recommendations on possible fields of intervention for new initiatives supported by the Commission in Libya.
The specific objective of the assignment was to conduct a thorough analysis of the existing Libyan Strategies, Policies and Programmes which aim to facilitate or have a sustainable impact on access to finance and the development of the private sector.
The possible options for an EU intervention were drafted in close collaboration with the EU and the Libyan relevant stakeholders, with a view to improving the business and investment environment, including improved access to finance conditions, aiming at increasing the competitiveness, sustainability and job creation potential of SMEs. This work was complemented by the experts’ own thorough analysis of the Libyan business environment and conditions to access to finance, as well as government strategies and policies in support of the private sector development and the ongoing and future interventions of other donors.
- Analysed key constraints and development opportunities
- Reviewed lessons learned from past experience
- Interviewed key stakeholders and civil society
- Submitted a political economy analysis (including drivers for change, possible obstacles in relation to the reform agenda, analysis of the stakeholders and interest groups, as well as constraints to the Private Sector Development)
- Justified acceptance and modification of the proposed support to the Government’s programme
- Selected preferred design option, including the financing modality on which to base the financing and implementation of the support
- Prepared the basis for the future formulation of the proposed programme
- Prepared complete documentation to allow further formulation of the preferred option
Formulated Draft Identification Fiche