US mulls humanitarian uses for Libyan assets

US mulls humanitarian uses for Libyan assets
# 08 April 2011 07:45 (UTC +04:00)
Baku - APA-Economics. Some of the $34 billion in Libyan government assets now frozen by the United States could be used to pay costs for humanitarian needs in the North African country, a senior U.S. Treasury official said on Thursday, Reuters Africa reported.

The Obama administration is working with Congress to determine what to do with the frozen assets of Libyan strongman Muammar Gaddafi and his senior officials, said David Cohen, who has been nominated to take over as the Treasury’s undersecretary for terrorism and financial intelligence.

Humanitarian uses for some of the funds are being discussed, he told a confirmation hearing before the U.S. Senate Finance Committee.

"Those conversations are still in progress, but as we sit here today, that money is frozen, Colonel Gaddafi and his government cannot get access to it, and we are holding it for the Libyan people," Cohen said.

He did not elaborate on possible specific uses.
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