Housing Minister announces youth support and long-term installments
The Minister of Housing and Reconstruction of the National Unity Government, Engineer Essam Tamouni, launched the Prime Minister’s Youth Housing Initiative, which aims to support young people in acquiring housing through affordable financing and long-term repayment mechanisms. The initiative includes providing financial support of 150,000 Libyan dinars, disbursed in three installments of 50,000 dinars each, in cooperation with the Savings and Investment Bank. Beneficiaries will pay an upfront amount ranging from 20% to 40% of the house’s value, with the remaining balance payable over up to 25 years through an easy installment system, targeting low-income families. Additionally, the ministry is preparing to deliver between 400 and 500 ready-to-occupy housing units—95% complete—before the end of 2023, with delivery rates increasing in 2027. This effort is part of the government’s broader plan to expand homeownership opportunities and support social stability.
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