Libya's interim government has approved the appointment of a board of trustees for the $65 billion Libyan Investment Authority (LIA), the state news agency reported on Wednesday, paving the way for appointing new management for the fund. "The cabinet approved the appointment of the board of trustees of the Libyan Authority," the agency said, without giving more details.
The fund's former boards of trustees and directors had been frozen after the February 17 uprising the ended Muammar Qadhafi's rule. The has cabinet yet to approve a new board of directors which would hire a new management for the fund.