Bloomberg Anywhere Remote Login Bloomberg Terminal Demo Request


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Bloomberg Customers

Libya’s State Support Fund for Families Has $4.7 Billion Deficit

Libya’s Economic and Social Development Fund is showing a deficit of $4.7 billion as its revenue from investments declined following the 2011 revolution that toppled Muammar Qaddafi, Chairman Mahmoud Badi said.

The fund, tasked with providing support to needy families, has yet to receive dividends from most of the companies and projects in which it has investments in Libya, Badi said in an interview yesterday in Tripoli.

“Current average income received from the fund is at $390 million per year while payments amount to $936 million per year,” he said. “We are facing a difficult period.”

The fund is part of the Libyan Investment Authority, the North African nation’s sovereign wealth fund. Badi said the ESDF liquidated most investments abroad at the end of last year, incurring a loss of $450 million. Two portfolios with an original value of $375 million remain in Europe. These are part of the LIA and subject to sanctions. “Their monetary value could be less,” said Badi.

All other ESDF assets are worth about $9 billion to $10 billion and in Libya, according to Badi. ESDF holds shares in Wahda Bank, Sahara Bank, Libyan Gulf First Bank, Libyan Insurance Co, Libyan Tobacco Co. and other industrial companies, he said.

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.