Because your string input already uses valid string formatting placeholders, all you need to do is convert your existing data structure to a dictonary mapping names to values:
template_values = {d['name']: d['value'] for d in list_of_dictionaries}
then apply that dictionary to your template strings with the **mapping call syntax to the str.format() method on the template string:
result = template_string.format(**template_values)
Demo:
>>> list_of_dictionaries = [{'name': "a", 'value': "123"}, {'name': "b", 'value': "456"}]
>>> template_string = "blabla {a}"
>>> template_values = {d['name']: d['value'] for d in list_of_dictionaries}
>>> template_values
{'a': '123', 'b': '456'}
>>> template_string.format(**template_values)
'blabla 123'
list, notarray, for the mutable sequence data structure. There is a separatearraymodule supporting a single numeric type for each value only.