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E-NABLE - Innovative Approach for a Resilient Libyan Economy
Project
Published on
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Project start date
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Status
Closed
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Project end date
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Financing amount (Euro)
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€5M
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Country and region
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Libya, Africa
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Funders
E-nable aims to improve the capacities of key economic institutions for sustainable, diversified, and digital economic recovery in Libya.
Since 2011 and following the Arab Spring, Libya has been facing political instability and economic hardships. In this context, establishing the E-nable project is crucial to support Libyan institutions and the private sector in economic governance and digital transformation.
This project builds upon the expertise acquired by Expertise France in Libya over the past several years, as well as the World Bank's analyses and OECD studies, to support the transition towards digitalization, to foster a competitive private sector, and to support the foundation of a dynamic and diversified economy.
The European Union entrusts Expertise France with the implementation of this three-year, €5m funded project, with the aim of complementing, supporting, and deepening the work carried out by the EU4PSL and RAQAM-E projects.
Objectives of the E-nable project
The overall objective of the action is to improve the capacities of key economic institutions for sustainable, diversified, and digital economic recovery to institutionalize the private sector's economic growth, with the support of both private and public sector organizations.
To that effect, E-nable will operate under three main axes. Firstly, it makes it possible to strengthen the capacities of the Ministry of Economy and Trade and related stakeholders in designing public policies for economic diversification. Secondly, it helps leverage digital innovations for inclusive and sustainable development in Libya. Lastly, the project encourages financial institutions to extend credit to the private sector and provide financial tools and solutions to SMEs.
Main outcomes and expected results
The E-nable project seeks to assist the government of Libya and all relevant stakeholders in their efforts to promote the development of an open, dynamic, and diversified economy in Libya.
More specifically, the action seeks to achieve the following outcomes.
Enhancing public policies for economic diversification and favorable business environment.
- Improving economic knowledge and database;
- Ensuring a shared and concerted vision on sustainable economic development issues;
- Improving knowledge and capacities for enabling business environment, facilitating private sector development and fostering domestic and foreign investment.
Implementing digital innovations related to economic governance within public institutions.
- Supporting public actors in developing and implementing a national digital and innovative strategy;
- Improving digital tools and relevant capacities within the tax administration.
Improving the services and products provided by financial institutions.
- Developing a political and organizational framework for establishing a leasing company for accessing credit;
- Strenghtening the organizational and technical capacities of the Libyan Credit Information Center;
- Increasing knowledge on micro-finance amongst banks;
- Supporting a new regulatory framework to enable local market fintech actors.
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