Libyan Local Investment & Development Fund (LLIDF) appoints Deloitte to support launch of Libyan Public Private Partnership (PPP) programme
18 May 2014 – The Libyan Local Investment & Development Fund (LLIDF) is pleased to announce the appointment of Deloitte as its advisor to deliver national infrastructure projects through Libya’s PPP programme. Deloitte was selected following a competitive process with independent international evaluation.
Through active investment in and promotion of PPP opportunities, LLIDF is working to generate long-term financial returns and tangible socio-economic benefits by developing Libya’s infrastructure.
The agreement, signed 1 April 2014 in Tripoli by Mr. Bader Ben-Othman (CEO of LLIDF) and Mr. Ian Simpson (Partner with Deloitte), marks an important milestone for Libya’s PPP agenda.
Mr. Bader Ben-Othman noted: “We are delighted to work with Deloitte on this important initiative. Throughout the evaluation and selection process, Deloitte’s capabilities and credentials became evident to all involved. As such, I am confident in Deloitte’s ability to assist us and we look forward to working with them to bring this project to fruition.”
Mr. Ian Simpson added: “Our Infrastructure & Capital Projects team has worked on some of the world’s largest and most complex projects. Deloitte is pleased to be working alongside LLIDF and we look forward to leveraging our global expertise to establish Libya as a centre of PPP excellence and partner of choice for private investors.”
Following a review of the PPP strategy, the focus will shift to growing LLIDF’s institutional capacity and designing the PPP delivery organisation. A number of sector studies will soon be undertaken to explore opportunities to attract global private investment. This will be followed by the implementation of PPP pilot projects aimed at stimulating economic development.
Deloitte refers to one or more of Deloitte Touche Tohmatsu Limited, a UK private company limited by guarantee (“DTTL”), its network of member firms, and their related entities. DTTL and each of its member firms are legally separate and independent entities. DTTL (also referred to as “Deloitte Global”) does not provide services to clients. Please see About Deloitte for a more detailed description of DTTL and its member firms.
Deloitte provides audit, tax, consulting, and financial advisory services to public and private clients spanning multiple industries. With a globally connected network of member firms in more than 150 countries and territories, Deloitte brings world-class capabilities and high-quality service to clients, delivering the insights they need to address their most complex business challenges. Deloitte’s more than 200,000 professionals are committed to becoming the standard of excellence.
About Deloitte & Touche (M.E.)
Deloitte & Touche (M.E.) is a member firm of Deloitte Touche Tohmatsu Limited (DTTL) and is the first Arab professional services firm established in the Middle East region with uninterrupted presence since 1926.
Deloitte is among the region’s leading professional services firms, providing audit, tax, consulting, and financial advisory services through 26 offices in 15 countries with more than 3,000 partners, directors and staff. It is a Tier 1 Tax advisor in the GCC region since 2010 (according to the International Tax Review World Tax Rankings). It has received numerous awards in the last few years which include Best Employer in the Middle East, best consulting firm, and the Middle East Training & Development Excellence Award by the Institute of Chartered Accountants in England and Wales (ICAEW).
About Libyan Local Investment & Development Fund (LLIDF):
As one of the largest investment funds in Libya, LLIDF is responsible for driving socio-economic development through investments in key infrastructure and industry sectors throughout the country.
LLIDF will act as a catalyst in the quest for diversifying and transforming Libya’s economy and developing its private sector to generate sustainable financial returns and positive socio-economic impacts. The fund aims to achieve this by establishing a PPP unit as a centre for developing Libya’s infrastructure, transforming existing non-oil & gas industries and creating new industries in partnership with best-in-class international organisations.