Germany lends Libyan rebels $144 million as fighting rages

[jakeXT]

Source: CNN

(CNN) -- Germany announced Sunday it has agreed to lend 100 million euros ($144 million) to the rebels in Libya for "civilian and humanitarian purposes" despite staying out of NATO's bombing campaign against Libyan government forces.

Germany had previously announced a loan of $10 million (7 million euros) for humanitarian aid to the Transitional National Council, the rebel movement that is battling to unseat longtime Libyan strongman Moammar Gadhafi.

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In a speech last week, Gadhafi called on his supporters to march -- unarmed -- to reclaim rebel-controlled cities and towns.

"A million should march to Benghazi and liberate it from the traitors without any weapons," the strongman said. "Even without weapons, we can cleanse the western mountains by the march of men and women."

Read more: http://edition.cnn.com/2011/WORLD/africa/07/24/libya.germany/

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German Foreign Minister Guido Westerwelle said the loans could be paid back with Gaddafi's frozen assets. Once the UN Security Council has unfrozen them, the loan will be paid back from Gaddafi’s wallet.

Bricmont underlined that the UN resolutions do not allow for taking money from Libya and giving it to the rebels.

He insists that the move will undermine the credibility of the Western banking system.

Last month Germany announced it was recognizing the rebels' National Transitional Council as Libya's legitimate government.

http://rt.com/news/germany-libya-rebels-loan/