The Chairman and Chief Executive Officer of the Libyan Investment Authority, Dr. Ali Mahmoud Hassan, met today, Monday, May 4, with the Deputy Permanent Representative of the Federal Republic of Germany to the United Nations.

The meeting discussed the status of the Authority’s assets invested in Germany, as well as mechanisms for reinvesting and managing them within the framework of the recently issued Security Council resolutions.

The two sides also discussed ways in which the German Mission could support the Libyan Investment Authority, particularly in facilitating the licensing procedures submitted by the Authority to the relevant German authorities for the reinvestment of its cash balances deposited with German banks, in accordance with the relevant international resolutions.

The Libyan Investment Authority affirmed that it is not seeking to lift the freeze on assets subject to sanctions, but rather aims to manage and reinvest uninvested cash balances within the framework of the freezing measures, in a manner that generates sustainable returns and preserves the rights and interests of the Libyan people.

It is worth noting that the Libyan Investment Authority, together with the Long-Term Investment Portfolio, has previously succeeded in reinvesting part of their cash balances in German markets and financial institutions, while keeping them within the scope of the freeze.

The Authority also holds a diversified investment portfolio managed in Germany, including assets in the energy sector, bank deposits, and shareholdings in companies, supporting the preservation of asset value over the long term.