The Libyan Investment Authority (LIA) is the sovereign wealth fund of Libya. It was established in 2006 and, in accordance with law No (13) of 2010, aims to develop and maximise state revenue surpluses to achieve three goals:
- Create a diversified source of wealth for Libya’s future generations by investing internationally with a sustainable, long-term view.
- Stimulate Libya’s economy through major, transformational private sector projects, engaging international expertise through joint ventures and knowledge transfer.
- Provide stability against volatile oil revenues and government budget shortfalls.
The LIA intends to establish itself as a world-class fund and lead the way with its performance, transparency, ethics and accountability.
Through our work the LIA will build, and enhance the resilience of, the Libyan economy. This will help ensure the well-being of all Libyans for years to come.
The LIA is led from its longstanding headquarters in Tripoli by AbdulMagid Breish.
Mr Breish was appointed Chairman and CEO in June 2013 by the General National Congress, which at the time was the sole government of Libya.