Egyptian Reconstruction Projects in Libya Surpass USD 5 Billion

Egyptian companies have implemented reconstruction projects in Libya worth over USD 5 billion, marking a major milestone in bilateral economic cooperation. For the first time, the scale of Egyptian-led projects has exceeded the total value of Libyan investments in Egypt.

The latest agreements, signed this month with Libya’s Fund for Development and Reconstruction, include development works in cities such as Derna and Al-Bayda, which were among the hardest hit by Cyclone Daniel in September 2023.

Egypt has also solidified its position as Libya’s top African trading partner, with exports exceeding USD 2 billion. This places Egypt third among Arab exporters to Libya, behind Saudi Arabia and the United Arab Emirates. Meanwhile, Libyan investment in Egypt has dropped by 25%, with 511 Libyan companies currently registered. Although these firms have declared capital totalling USD 4 billion, the actual volume of investment is estimated at USD 2.4 billion.