The European Union has given its approval for a €20.5 million direct budget support to the government of Somalia, in a major boost to the country’s development agenda.
The funds, which will be provided under the EU’s Somalia State and Resilience Building Contract and Support to Debt Relief Action (SRBC), coincide with the launch of the Joint Operational Roadmap for a renewed engagement between the EU and Somalia.
The Joint Operational Roadmap outlines joint priorities for the next two years and is aimed at supporting the Somali government in implementing its national development and stabilisation plan, as well as remaining on track with the Heavily Indebted Poor Countries (HIPC) process.
The EU Ambassador to Somalia, Ms. Tiina Intelmann, said the support will help Somalia reach a historical milestone with the HIPC completion point in sight. She emphasized the need for increasing domestic resource mobilisation and improving financial governance to advance the economic reform agenda and further the state-building of Somalia.
“The EU looks forward to continuing to support and work closely with Somalia to tackle these challenges to ensure that more and better services are delivered to Somali citizens,” Ambassador Intelmann said.
Somalia’s Finance Minister, Elmi Nur, praised the contribution as critical in strengthening reform in Somalia.
“The EU budget support is an invaluable source of assistance to ensure our government strengthens the ongoing reforms and delivers basic public services to the people,” he said.
Since 2018, a total amount of EUR 82.9 million has been released under the SRBC as budget support to the Federal Government of Somalia (FGS). The EU budget support operation has assisted the FGS in ensuring the delivery of core state functions, underpinning macroeconomic stabilisation measures and preventing a serious deterioration of the economic and social situation amidst the onset of Covid-19 and other concurrent crises.
The approval of the €20.5 million in direct budget support comes at a critical time for Somalia as it continues to face significant challenges in its efforts to rebuild and stabilise the country. The support is expected to boost the country’s efforts in improving financial governance and mobilising domestic resources, which are essential for the country’s economic reform agenda and state-building efforts.
The European Union has been a key partner of Somalia in its efforts to rebuild and stabilise the country in the aftermath of years of conflict and instability.
The EU’s support has been critical in providing the necessary resources and expertise to support the country’s development agenda and ensure the delivery of basic public services to the people.
The approval of the €20.5 million in direct budget support is a testament to the EU’s commitment to supporting Somalia in its efforts to rebuild and stabilise the country.
The EU’s continued support will be critical in ensuring that Somalia is able to overcome the challenges it faces and achieve its development goals in the years to come.
