Libya is not likely to need substantial humanitarian aid in the post-conflict period as it is set to regain control of assets that were frozen over the past months, the European Union's top foreign policy official said Tuesday, DPA reported.
Funds held abroad by the regime of Libyan leader Moamer Gaddafi have been blocked by the EU, the US and other western nations in response to Gaddafi's crackdown against the uprising challenging his rule.
"I anticipate that the release of assets back to the Libyan people is going to actually create a lot of resources on the ground," EU High Representative for foreign policy Catherine Ashton told reporters in Brussels.
"It is a country that is rich ... it is a country that has the capacity to develop its economy very quickly, so I don't anticipate economic aid as such," Ashton added.
The EU would still help in institution-building, she suggested.
Amid reports that rebel fighters had entered Gaddafi's compound in Tripoli, Ashton refused to speculate about the Libyan leader's downfall.
"I don't doubt that the future of Libya lies in a country which has a democratic future ... without Gaddafi. Whether that will be in the next few days or longer, remains to be seen," she said.
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