On Sunday, the Central Bank of Libya announced the finalisation of its reunification as a unitary, sovereign institution. The European Union, also as co-chair of the Economic Working group of the International Follow-up Committee on Libya, welcomes this development and the commitment of the Central Bank’s leadership to work towards addressing the impact of almost a decade of division of this crucial financial institution.

The reunification of the branches of Central Bank is a crucial step towards a united, stable, and prosperous Libya. It is now up to all parties concerned to build on this achievement to successfully conclude the ongoing UN-mediated talks aimed at identifying a Libyan-led, Libyan-owned, inclusive and sustainable political solution for the country, through national elections.