Somalia: European Union Releases €9 Million Budget Support to Somalia

30 September 2024
Shabelle Media Network (Mogadishu)

Brussels, Belgium — The European Union has announced a €9 million budget support payment to the Federal Government of Somalia, acknowledging the country's progress in maintaining macroeconomic stability and advancing key reforms in public financial management.

This financial aid aims to bolster Somalia's efforts to enhance governance and economic stability. The EU's decision reflects confidence in Somalia's commitment to implementing reforms that are crucial for sustainable development and improved public sector efficiency.

The payment is part of the EU's broader strategy to support partner countries in achieving stability and growth through effective financial management and policy implementation.

Somalia's government has expressed gratitude for the support, highlighting the importance of such international cooperation in their efforts to rebuild and stabilize the nation's economy post-conflict.

Further details on how the funds will be utilized to support specific reforms are expected to be released by both the EU and the Somali government in the coming days.

Read the original article on Shabelle.

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