Brussels, 05/05/2011 (Agence Europe) - The members of the Contact Group on international intervention in Libya - in which Catherine Ashton represents the EU - decided on Thursday 5 May, in Rome, to create a special fund called the “temporary financial mechanism” to help finance the rebel interim Transitional National Council to oust Muammar Gaddafi. The fund will be fuelled by the frozen funds of Gaddafi and of his close circle, estimated at $60 billion. Initially, this money - which is blocked in the United States, the EU and elsewhere - will be used as a guarantee to open credit lines in favour of the Libyan opposition. Later, once certain legal problems have been settled, the fund may also be directly supplied by part of Gaddafi and his close circle's funds brought out of freezing. Italy's Foreign Minister Franco Frattini said “stronger economic support (for the TNC) is necessary”. He announced the establishment of a special fund that should be operational in a few weeks' time. The frozen money “belongs to the Libyan people, and Italy and France have already urged competent bodies of the European Union to find a solution” so that it may be used, Frattini said. Hillary Clinton, also present in Rome, announced that Washington would take the necessary legislative measures to allow part of the funds to be used so that they become “available for helping the Libyan people”. Frattini hopes “more and more partners would envisage establishing bilateral relations” with the TNC. The next Contact Group meeting will be held in the United Arab Emirates, probably during the second half of June. (H.B./transl.jl)