The head of the Libyan Investment Authority, Ali Mahmoud Hassan, discussed with the acting Chinese ambassador to Libya, Liu Jian, ways to cooperate and mechanisms to implement Security Council Resolution 2769 of 2025, which emphasizes the importance of protecting the institution's assets and allows for the reinvestment of frozen cash reserves in low-risk deposits, while maintaining the accumulated returns of investment fund managers.

The meeting was held to discuss the role that China, as a permanent member of the UN Security Council, can play in supporting the reinvestment of frozen Libyan assets, thereby contributing to their protection and preservation of their market value, and enhancing their management in accordance with international best practices in sovereign asset management.

Reinvestment of frozen Libyan assets

The meeting confirmed the Libyan Investment Authority's keenness to reinvest its uninvested assets, while continuing to be subject to the freezing regime, in order to protect them from erosion and achieve the best possible management within the approved legal and regulatory frameworks.

The two sides noted the importance of coordinating efforts to maximize the financial returns on Libyan assets and strengthening cooperation between the Corporation and the Chinese Embassy in a manner that serves the interests of both parties and enhances the Corporation's financial stability.

Security Council Resolution 2769, issued in January 2025, emphasized the importance of protecting the institution's assets, while allowing it to invest its frozen cash reserves in low-risk term deposits with selected financial institutions, while remaining subject to the freeze, in addition to reinvesting the accumulated cash returns with investment fund managers, while maintaining the frozen status of those returns.