The prince has been waiting for his money for years. King’s younger brother Filip in 2008, with its foundation, the Global Sustainable Development Trust (GSDT), invested nearly fifty million euros in a reforestation project in the North African country. However, that project was abruptly halted, and in the years that followed Libya saw civil war, various regime changes and disorder.
The Belgian court had ruled in 2014 that the prince’s company was entitled to a refund, but no further action was taken. This much to Laurent’s dismay, as other institutions were supported by the government in their attempts to recover debts from the Libyan authorities. Laurent wanted to be paid through the Global Sustainable Development Trust, but that account has been frozen by order of the UN Sanctions Committee.
The Belgian government initially objected to the payment, but that opinion was changed after an interview with the minister From Peteghem recently had with curators of the Laurent foundation. He said afterwards that he had asked his colleague from Foreign Affairs to inform the UN that disbursement could take place by ‘thawing’ the funds.
The UN sanctions committee has refused. The Prince’s Foundation is now investigating the decision and whether it can appeal.
Source: De Telegraaf by www.telegraaf.nl.
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