UN nod for $ 1.6 billion emergency aid for Libya

United Nations: UN Security Council has allowed Britain to release about $ 1.6 billion in seized assets to Libya for emergency aid, as the chief of the world body underlined that the humanitarian situation in the war-torn country demands 'urgent action'.

"Further action will be needed in the coming days. I appeal to the Council to continue to be responsive to the requests of the transitional authority in Libya for funding," UN Secretary-General Ban Ki-Moon said in a briefing to the Council on Libya.

"The humanitarian situation in Libya demands urgent action," he said, adding it was "vitally important" that the Security Council Sanctions Committee allow release of the $ 1.5 billion for humanitarian assistance.

The release of funds came after China and Russia lifted their holds on the funds.

China's Ambassador to the UN Li Baodong told reporters that Beijing supports release of funds but it should be assured that the 'money is spent wisely' and for 'benefit of the people of Libya'.

The money held in Britain is 200 million banknotes valued at 1.86 billion Libyan dinar or about $ 1.6 billion.

The British Foreign Ministry said in a statement that the release "represents another major step forward in getting necessary assistance to the Libyan people, building on the remarkable progress in recent days."

"These banknotes, which were frozen in the UK under UN sanctions, will help address urgent humanitarian needs, instill confidence in the banking sector, pay salaries of key public sector workers and free up liquidity in the economy," he added.

Ban told the powerful Council that the first allocation totalling $ 110 million has already been made.

Last week, the UN permitted the US to send about $ 1.5 billion in seized assets to Libya.

Pointing out that water supplies continue to be "critically" short in Libya, the UN chief said an estimated 60 per cent of Tripoli's population is without water and sanitation.

"The people of Libya are looking to the international community for help. The transitional government will be outlining specific requests in the coming days," he underlined.

Ban said his aim was to get UN personnel on the ground in Libya "absolutely as quickly as possible" under a robust Security Council mandate.

The UN chief said he was encouraged by the situation in Libya, where the rebel National Transition Council "appears to be largely in control of Tripoli" and "we are beginning to see signs of progress."

"I think we can now hope for a quick conclusion to the conflict and end to the suffering of the Libya people," he said.

Ban said he has discussed the role UN can play in Libya with NTC Chairman Mustafa Abdel Jalil including in areas such as election assistance, transitional justice and policing as well as urgent humanitarian needs.

Separate bids for the release of about $ 1.5 billion in Libyan assets submitted by France and Germany are being delayed by Russian requests for more information on the funds.