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Business/Finance

ITALY/LIBYABack
[Published: Friday August 29 2008]

Italy to pay Libya bn colonial deal

Benghazi, Libya, 30 Aug-(ANA)-Italian Prime Minister SilvioBerlusconi has signed an agreement to pay Libya bn as part of a deal toresolve colonial-era disputes.

Libyan leader Col Muammar Gaddafi said the settlement signed in the city ofBenghazi opened the door to partnership between the two states.

Mr Berlusconi said the deal, which sees the money being released over 25years, ended "40 years of misunderstanding".

Libya was occupied by Italy in 1911 before becoming a colony in the 1930s.

The former Ottoman territory became an independent country in 1951. (ANA)

FA/ANA/30 August 2008---


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