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Estimated Financial Overview of Tripoli Offensive
Comparison of initial funding requirements vs. loans secured by facilitators.
Primary Sources
Libyan Financier Facilitated $300M Loans for Haftar's Tripoli Offensive ...
A recent report has revealed that a Libyan financier played a pivotal role in enabling loans worth approximately $300 million to fund Khalifa Haftar’s offensive on Tripoli. The offensive, aimed at seizing control of Libya’s capital, escalated the conflict but also left a significant financial burden on the Libyan public. According to the investigation, the financier helped secure substantial loans used to support military operations and logistical needs during the offensive. However, this influx of funds came at a great cost to ordinary Libyans, many of whom are now grappling with the fallout of unpaid debts and a deteriorating economic situation. The report highlights that despite the massive scale of financing and the evident consequences faced by the population, key individuals involved in orchestrating and facilitating these loans have yet to face any form of accountability or repercussions. The lack of consequences has raised concerns about governance, transparency, and justice in Libya’s ongoing conflict. This financial entanglement underscores the complexities of Libya’s civil war, where political and military ambitions are deeply intertwined with economic manipulation. The burden of unpaid loans not only hampers Libya’s fragile economy but also exacerbates the humanitarian crisis faced by its citizens. Experts warn that unless measures are taken to address the financial irregularities and ensure accountability, Libya’s path to stability will remain obstructed. The international community and Libyan authorities are urged to investigate the financing networks behind the conflict and to support efforts that protect the population from further economic harm. In sum, while the financial support enabled Haftar’s offensive, the resulting debt crisis falls heavily on the Libyan public, with little to no consequences for those who profited or facilitated the loans. This dynamic adds another layer of complexity to Libya’s struggle for peace and prosperity. About Author
Libyan financier enabled '$300m in loans' for Haftar's Tripoli offensive
A group of companies tied to Khalifa Haftar helped funnel hundreds of millions of dollars into the eastern Libyan commander’s failed 2019–2020 assault on Tripoli, according to a new investigation, and left the Libyan people to bear the cost.The report published on Tuesday by The Sentry, an investigative and policy organisation, said Libyan businessman Ahmed Gadalla functioned as a “key enabler” for Haftar family members, who secured $300m in loans from a “minor” bank based in Abu Dhabi in the United Arab Emirates (UAE) ahead of the offensive.The months-long campaign by forces loyal to the renegade military commander to seize the Libyan capital from the United Nations-recognised government killed hundreds of people and displaced hundreds of thousands.The cost of the campaign was significant. “The offensive required a roughly $700 million effort mobilised upfront,” Sentry stated.According to the investigation, the money likely helped finance operations including payments to Russia’s mercenary Wagner Group, which supported Haftar’s offensive.The campaign eventually saw Haftar’s Libyan National Army get pushed back from the capital and lose a string of western towns to forces loyal to the Government of National Accord.“After Haftar’s offensive collapsed, the loans have remained largely unpaid, leaving the Libyan public to bear the financial burden while Gadalla has faced no accountability,” the report said.Neither Gadalla nor the banks named in the report responded to requests for comment, The Sentry said.Libya, a major oil-producing nation, has been mired in turmoil since 2011, when longtime ruler Muammar Gaddafi was overthrown and killed during an uprising.Despite the failure to take Tripoli, The Sentry alleges Gadalla has since expanded his influence across eastern Libya’s financial system, under the protection of Haftar’s son Saddam, and exerts control over key banks.“Gadalla has transitioned from an obscure financier to a dominant force in eastern Libya’s economy,” the report reads.“Gadalla has wielded control over the Bank of Commerce and Development (BCD) and other financial institutions in eastern Libya, such as Wahda Bank and National Commercial Bank, using them to facilitate large-scale letter-of-credit fraud and to launder illicit profits,” the investigation claims.The Libyan national is also reported to be involved in the circulation of counterfeit “Russian-printed dinars” that has weakened Libya’s local currency.Arms procurementThe report also lin...
How the Rivalry Between Haftar and al-Zadma is Fueling the Conflict in ...
The conflict between Khalifa Haftar and Hassan al-Zadma has intensified tensions in southwestern Libya, disrupting tribal alliances and involving external powers over control of key resources like gold mines.
Ukrainian Military Presence Reported in Western Libya Amid Expanding ...
Ukraine has not confirmed any role in the incident. Libya as a contested arena Libya remains deeply divided between rival administrations, with the internationally recognized government in Tripoli and a parallel power structure in the east backed by military commander Khalifa Haftar, The Guardian reported.
