The Italian government is working with Eni SpA (E) and UniCredit SpA (UCG.MI) to provide the Libyan rebels with a "massive amount" of gasoline and money, said Italy's Foreign Minister Franco Frattini Tuesday.

"We make a commitment together with Eni and UniCredit to sustain the needs of the Libyan population via the TNC [Transitional National Council] with a massive amount of gasoline and a very large amount of money: hundreds of millions of euros," said Frattini at a press conference in the Libyan rebel stronghold of Benghazi, according to the Italian newswire Ansa.

A foreign ministry spokesman confirmed Frattini's comments.

According to recent reports, the rebels have used up their stock of crude oil and need resources in their fight against the forces of Colonel Moammar Gadhafi. The fighting started in mid-February with the rebels controlling the eastern part of the North African country, while pro-Gadhafi ones control most of the West.

This aid will be guaranteed from the assets tied to Gadhafi's regime which have been frozen by the Italian government under a United Nations resolution, said Frattini.

The assets frozen are worth billions of euros and act as a "guarantee" for the financial assistance Italy will provide the TNC, said the Italian minister at the press conference to present the memorandum of understanding signed with the Libya rebels.

The next meeting of the so-called contact group dealing with Libya , set for June 9 in Abu Dhabi , will focus on how to go about unfreezing the Gadhafi assets to the benefit of the Libyan population, said Frattini.

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