UAE and Libya are looking forward to strengthen their investment relationship that is almost four decades long.

And the recent signing of joint investment fund worth $11 billion between the two nations is showing just that. The money is going to be used in the internal reconstruction of both the countries.

Libya, which is one of the oldest investment destinations of UAE, is trying to position its economy as the hub linking European markets to African resources. And for the same, it has long been seeking help from Arab countries including UAE.

Besides that, Libya is also investing $ 240 billion for infrastructure development that includes roads, ports, airports, schools and hospitals. Jamal Ellamushe, Libyan minister of privatization and investment said that he is eyeing hopefully at the UAE investors. It is as much for technological know-how as it is for money.

And since the sanctions against Libya have been removed by UN and the US, this is the start of a new era of development, construction and education. The minister further added that the country is investing heavily so that more and more foreign capital is attracted to the African nation.