Libyan wealth fund: frozen assets should not go to IRA victims

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Head of Libyan Investment Authority warns that money is needed to help country rebuild

A bill that proposes using assets frozen during Libya’s civil war to compensate victims of the IRA would hinder the country’s efforts to rebuild, the head of its sovereign wealth fund has said.

London banks hold an estimated £12bn of Libyan funds after the UN ordered that they be frozen in 2011 to prevent their theft or misuse during the war that toppled Col Muammar Gaddafi.

Related: Libya is a war zone. Why is the EU still sending refugees back there? | Sally Hayden

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