Library
Software developers often use lib as shorthand for "library." In this context, a lib is a bundle of resources (such as scripts, drivers, databases, and fonts) that any program can load as needed. Loading resources from a lib allows a program to use those resources without including them in its own files (reducing the program's file size).
In many cases, libs are stored in a directory named Library or lib. You can learn more about libs at TechTerms.com.
Example
That's a great function. Let's put it in the lib; we'll definitely use it in other programs
Aw, thanks!
Are you financially literate?
Lib is short for "Liberal," which is a political label for views on the left side of the political spectrum. It is the opposite of conservative and is typically used with a demeaning connotation.