Tag Archives: kuwait

EU used Libya’s frozen funds to finance NATO invasion

By The Voice of the Cape
31 August 2010 (last modified 20 June 2011)

Europe’s foreign ministers Monday urged the use of frozen funds to finance Libya’s opposition, which has complained of a cash shortfall after failing to receive aid pledged by international donors. In a statement on Libya, the 27 European Union ministers said the bloc “acknowledges the urgent financial needs of the (opposition) Transitional National Council”. They also welcomed specific cash contributions by Italy and France, which is releasing frozen funds to the rebels.

Extra global aid to the Benghazi-based opposition “where possible” could include “the use of frozen Libyan funds”, the ministers said. “Measures in this regard will respect the rule of law,” the statement added. Libyan rebel forces said Sunday they were running out of money and had not yet received any of the roughly one billion dollars promised by international donors earlier this month.

Continue reading