Libyan Frozen Assets to be Released

The U.N. Security Council decide to unfreeze $1.5 billion worth of assets belonging to Libya to be used as an emergency funding for the rebels’ National Transitional Council (NTC). Earlier this week, top representatives of NTC asked for a total of $5 billion to be released to the rebel forces at a meeting of Contact Group for Libya in Doha, Qatar.

Libyan Assets Released

Mahmud Jibril, who is the second top-ranked official in NTC told reporters in Istanbul the rebels will need the money to meet high expectations of people, following the collapse of the long-standing dictatorship of Libyan Col. Muamar Kadhafi. He met Turkish Foreign Minister Ahmet Davutoglu who insisted on immediate release of frozen Libyan funds and hailed the steps in this direction.

According to Jibril, the life in Libya should go on as usual after the fall of the old regime and salaries of civil servants should be paid on time. He added, the rebel government should gradually collect all arms from civilians and establish a new national army and police forces. Speaking at the press conference, Davutogly said he believes these money belong to the Libyan people and have to be released to them.

Earlier, Turkey released $300 million in aid for the rebel government, which moved its headquarters from Benghazi to Tripoli on Friday.

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