The State of Qatar yesterday welcomed the decision by the International Monetary Fund (IMF) and the World Bank's International Development Association to grant debt relief to Somalia under the enhanced Heavily Indebted Poor Countries (HIPC) Initiative.
The State of Qatar said that the decision is an important step on Somalia's path towards stability and prosperity. Qatar congratulates the government and people of Somalia on this achievement and their intense efforts to reach this point.
A statement by the Ministry of Foreign Affairs pointed out that Qatar has been a proud partner to Somalia's development efforts in recent years.
Through development initiatives and infrastructure investments, the State of Qatar has worked with the government and people of Somalia to generate opportunities and employment and create the foundations for future growth and stability, the statement said.
"This momentous decision marks the start of a new era for Somalia. We will continue to stand hand-in-hand with the people of Somalia as they work towards a brighter future," the statement added.