Italy to Pay/Invest $5 Billion in Libya as Reparations for Colonial Era

Italy will pay Libya $200 million per year for the next 25 years in reparations for Italy’s occupation during the colonial era, between 1911 and 1951. The deal was signed in Benghazi by Italian Prime Minister Silvio Berlusconi and Libyan strongman Mu’ammar Qadhafi. The deal marks the first time an African country has received reparations from a former colonial ruler, leaving many to speculate over whether a precedent is being set for other nations. According to Berlusconi, much of the money will be paid in the form of investment in infrastructure projects.