EU
#Somalia - Major step in EU support for state-building
The EU and Somalia signed on 14 October an agreement to provide €100 million to the Somali budget over the next 2.5 years. These funds will support the Federal Government's reforms to build a unified, federal state. Somalia is on a positive track towards stability and growth.
The EU's move to budget support is a token of the partnership with Somalia to develop a viable federal system and fostering long-term recovery. The date of signature coincides with the first anniversary of Somalia's worst terror attack, which killed over 500 people in Mogadishu.
On this occasion, International Cooperation and Development Commissioner Neven Mimica said: “Budget support shows the EU's trust in Somali institutions. It gives the government resources to implement reforms and build a stronger State able to deliver basic services to its people. Those 100M€ show the EU delivers quickly, a few months after the Somali Partnership Forum. It comes at a time where the Horn of Africa is going through unprecedented changes. And Somalia can seize this momentum for its own domestic transformation."
The financing agreement is a €100 million package dedicated to Somalia's state and resilience building, which will also support access to basic services. Up to €92 million will go to the federal government through budget support. The remaining €8 million will support capacity building to the federal and states' governments and oversight institutions. The disbursement of funds will be sequenced and closely monitored through political dialogue, regular assessment of progress achieved against indicators and dedicated safeguard measures.
Read the full press release here.
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