Libya–Business France MoU Focuses on Investment for Reconstruction
The Élysée Palace in Paris on November 19, 2025 hosted the signing of a Memorandum of Understanding between Libya’s National Development Agency (NDA) and Business France, France’s trade and investment promotion agency. Press reports describe the accord as “a step that reflects the desire of both parties to enhance economic cooperation and develop investment partnerships”. The ceremony was overseen by Dr. Mahmud Elforjani, Director‑General of the NDA, and the MoU was signed on the Agency’s behalf by Faraj Al‑Jarih, Director of its International Cooperation Office.
The NDA is a state development body affiliated with the Libya Development and Reconstruction Fund (LDRF). Libyan officials say the agreement is part of the NDA’s drive to promote economic openness and the exchange of expertise with leading international institutions. Eng. Belgassim Haftar, head of the LDRF, and his delegation also took part in the Paris signing. The NDA has been overseeing major infrastructure projects at home – for example, Haftar and Elforjani recently announced the completion of the Sirte Gulf international airport – and the new agreement aims to attract foreign know‑how and investment into such initiatives.
France-Libya Economic Engagement
The NDA–Business France deal follows a broader outreach by Libyan institutions to France. In late 2024, Haftar signed a memorandum with Business France at a Libya–France forum held in Benghazi. Last month Libya’s National Oil Corporation took part in the French–Libyan Energy Forum in Paris, organized by Business France, where it outlined plans to raise oil output, expand renewable projects and strengthen partnerships with French companies. And on November 18 Libyan officials, including the NDA director, attended the “Ambition Africa 2025” forum in Paris under President Macron’s patronage. That Business France event – which drew hundreds of African and French ministers, business leaders and officials – was explicitly aimed at deepening economic and trade ties between France and African countries.
Business France itself has noted that its Africa events generate thousands of business-to-business meetings and targeted networking, underscoring France’s interest in the continent as an investment destination. For Libya, participation in these forums has offered a platform to show projects and make contacts with potential partners. The presence of senior French figures – including France’s President’s special envoy and ambassador to Libya – at the NDA signing ceremony sent a signal that France is attentive to Libya’s reconstruction needs and keen to encourage French firms to engage.
Implications for Libya’s Development
The NDA–Business France agreement is designed to serve as a framework for cooperation in areas such as investment, innovation and support for small and medium‑sized enterprises, as well as for organizing commercial events and knowledge‑exchange in support of sustainable development goals. These objectives align with repeated recommendations that Libya diversify its economy beyond oil and strengthen its private sector. Indeed, Libya’s development authorities have signaled ambitious plans: Haftar has previously said that “2025 [would] bring many development and reconstruction projects in most Libyan cities and regions” and called on international firms to participate. Foreign partnerships like the one with Business France are intended to help finance and guide such projects.
At the same time, Libya’s economic recovery remains challenged by institutional division and resource constraints. The NDA was created only recently and is one of several new agencies tasked with reconstruction. Its parent fund’s large budget requests (nearly 70 billion dinars in 2025) have been controversial, reflecting a political debate over how development spending should be managed. Success for the new partnership will depend on Libya’s ability to streamline its project planning and procurement.
For now, the NDA–Business France MoU is a sign that Libya’s development planners are reaching out to European partners and aiming to integrate into broader investment networks. If followed by concrete projects, it could bring much‑needed capital and expertise into Libya. Building international links is a necessary step to overcome years of isolation; whether these agreements can translate into tangible economic growth will be a key test of Libya’s evolving institutions.
