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🛒 تسوق الآنLibyan Youth Housing Loans: First Batch Disbursement Date and New Registration Announced
Libyan Youth Housing Loans: First Batch Disbursement Date and New Registration Announced
Over 6,000 young Libyans to benefit from 150,000-dinar housing loans as first disbursement phase approaches
The first phase of Libya's youth lending initiative is nearing launch, with Minister of Youth in the Government of National Unity, Haitham Al-Zahhaf, confirming that all technical, legal, and organizational procedures have been completed. The announcement brings long-awaited clarity for thousands of young Libyans seeking housing financing.
Speaking in a video statement published on his official Facebook account, Al-Zahhaf revealed that the Supreme Committee for the initiative finalized all arrangements during its second meeting, paving the way for the disbursement of the first batch of loan instruments through Savings Bank branches in the coming days.
First Batch Details: 1,400 Beneficiaries to Receive Loans
The first batch will include more than 1,400 young men and women, while the broader first phase is set to benefit over 6,000 youth from across Libya. Each loan amounts to 150,000 Libyan dinars, disbursed in three equal installments of 50,000 dinars per payment.
The program targets Libyan youth aged 25 to 40 years, covering those born between 1986 and 2001. This age bracket was selected to prioritize young adults at the stage of life where housing needs are most acute, according to ministry officials.
Simplified Loan Conditions: Key Changes Announced
In a significant move to streamline access to the program, the Cabinet approved a package of amendments aimed at simplifying loan eligibility requirements. The most notable change is the removal of the property certificate requirement, which had been a major obstacle for many applicants.
Under the new conditions, applicants may instead submit a transfer deed or a relinquishment of ownership document for land or rooftop space. Additional requirements include:
- A salary certificate verifying stable employment
- Two guarantors who receive regular salaries
- Completion of all other standard documentation
The minister emphasized that these changes were designed to remove bureaucratic barriers that previously prevented eligible youth from accessing housing financing.
Application Process: Registration Currently Closed
Al-Zahhaf confirmed that registration for the initiative remains closed during the current phase. Priority is being given to processing applications already submitted in the system. The ministry will announce the reopening of registration once the current beneficiary lists are finalized.
Beneficiary lists will be forwarded to Savings Bank branches through sub-committees formed at the municipal level. These committees include representatives from the municipality, the ministries of youth and housing, and the Savings Bank. Each committee reviews applications before submitting them to the Supreme Committee for final approval.
Supervision and Transparency Measures
The initiative is being implemented under the direct supervision of the Prime Minister of the Government of National Unity. According to the minister, the program aims to provide the necessary financing for youth wishing to undertake housing projects, with strict adherence to transparency and fairness criteria in selecting beneficiaries across all regions of Libya.
The lending program represents one of the largest state-led youth housing initiatives in recent years, addressing a critical gap in Libya's housing sector that has been strained by years of conflict and underinvestment.
Outlook for Libyan Youth Housing
With the first disbursement imminent, the initiative signals a renewed focus on youth welfare and housing stability in Libya. The streamlined application process and the substantial loan value of 150,000 dinars position the program as a significant step toward alleviating the housing crisis facing young Libyans.
Observers note that the success of this first phase will likely determine the scale and pace of future expansions. If disbursements proceed smoothly, the program could be scaled to accommodate the thousands of additional applicants awaiting their turn.
— Libya Press / Economy Desk
