A fund of 450 million to guarantee the credits that our companies boast towards Libya: this is foreseen by the new basic text of the law developed by the Senate Finance Commission. Basically, the Italian State, to protect and safeguard the economic and financial situation of our compatriots, entities and companies that are creditors of Libya, by guaranteeing payment by the Libyan Government of the rights they have acquired, grants a sovereign guarantee up to a maximum of 450 million euros and for a period of five years, aimed at disinvesting uninsured, ascertained and quantified unpaid receivables.
The text of the law finalized by the commission refers to goods, works and services supplied to Libya from January 1970 to 28 October 2002 which were lost as a result of confiscations, seizures and other restrictive or impeding measures adopted by the Libyan authorities. Those who have already received compensation from the state are excluded from this benefit. It will be a commission to ascertain and verify the credits, on the basis of the documentation existing at the Ministry of Foreign Affairs. It includes a magistrate of the Court of Cassation, executives of the Ministry of Economy, a representative of the State Attorney's Office and three representatives designated by the associations. (sb)
