World powers have pledged to free billions of dollars in frozen assets to help Libya's provisional authority run and rebuild the battle-ravaged nation.

Libya's provisional authority and representatives from 60 countries met Thursday night at a Paris conference focusing on a Libya without ex-leader on the run, Moammar Gadhafi.

The United States, the Netherlands and France vowed to unfreeze nearly $5 billion in funds withheld from Mr. Gadhafi's government as it fought rebels seeking to end his 42-year rule.

Also Thursday, the European Union announced it was lifting sanctions on 28 Libyan entities, including ports, banks and energy companies.

Secretary of State Hillary Clinton told representatives of world powers at the meeting that the United Nations should move to ease restrictions on Libyan assets.

Later in the night, National Transitional Council leader Mustafa Abdel Jalil was expected to outline an 18-month process leading to a new constitution and elections.

Meanwhile, Mr. Gadhafi delivered a defiant message from an undisclosed location that was aired on Thursday on pan-Arab and Libyan media. He said his forces would not surrender and would ultimately be rewarded with victory. His audio statement was carried by Arabic television stations.

Libya's provisional authorities gave loyalists in his hometown of Sirte an additional week to surrender on Thursday. The NTC had originally set a Saturday deadline and said it would resort to military action if the deadline was not met. NTC officials said there was progress in negotiations with holdouts in Sirte.