Louay Al-Qariou, the spokesperson for the Libyan Investment Authority, clarified that the authority’s investment presence in Egypt is sound, and efforts are underway to further develop it. However, he denied reports circulated by some media outlets and social media pages about the authority injecting $5 billion to increase its investments in Egypt.
“What has been circulated in this regard is baseless and nothing more than a rumor,” Al-Qariou stated, refuting claims that the authority has recently pumped $5 billion to boost its investments in the neighboring country.
He added that the authority’s current investment activities in Egypt are satisfactory, expressing hope for future development within the framework of the good relations between the two brotherly nations and in a manner that serves the interests of their peoples.
Al-Qariou called upon media outlets to exercise accuracy and verify such news from official sources to ensure the dissemination of correct information to the public.