Tuesday October 1, 2024
Mogadishu (HOL) — The European Union (EU) has disbursed €9 million to the Federal Government of Somalia (FGS) to bolster governance reforms. The funding, aimed at enhancing public financial management and fostering economic growth, falls under the EU's Somalia State and Resilience Building Contract (SRBC II).
The disbursement will assist Somalia in mobilizing domestic revenue, strengthening fiscal federalism, and expanding social services, such as public education through programs like the National Teacher's Initiative.
"This disbursement underscores the EU's firm support for Somalia's achievements in public finance management and reinforces our commitment to the EU-Somalia Joint Operational Roadmap," EU Ambassador to Somalia Karin Johansson said.
Somalia's Minister of Finance, Bihi Iman Egeh, welcomed the EU's contribution, emphasizing its importance for ongoing reforms. "This support is crucial for driving financial governance reforms and improving basic social services throughout the country," Egeh stated.
The EU has provided over €101 million in budget support to Somalia since 2018.