World Bank recognizes Libya’s NTC

The World Bank has recognized Libya’s National Transitional Council (NTC) as the legitimate government of the North African country.
The financial institution said on Tuesday that its decision was based on “evolving events in Libya and the views of member countries,” AFP reported.

The bank pledged to assume a major role in rebuilding Libya, devastated by seven months of fighting between revolutionary forces and loyalists of Muammar Gaddafi, as well as the destructive airstrikes by NATO warplanes.

China was the latest country to announce the recognition of Libya’s NTC as Ma Zhaoxu, spokesperson for the Chinese foreign ministry, said on Monday that his country would “respect the choice of the Libyan people.”

Nearly 80 countries have recognized the NTC as Libya’s official governing authority.

This is while, South African President Jacob Zuma said on Tuesday that the African Union does not still recognize Libya’s interim government.

Zuma made the remarks a day before a regional meeting in Pretoria — a city in the northern part of South Africa, where the government departments are based — about the conflict in Libya.

The Libyan interim government is set to announce a new government in the coming days. Its Deputy chief Mahmud Jibril has said the new governing team will include representatives from different regions of the country.