Mogadishu, (Halbeeg News) – The European Union has released a EUR 9 million budget support payment to the Federal Government of Somalia in recognition of the Government’s ability to maintain macroeconomic stability and implementation of key reforms to strengthen public financial management.
The funding supports the Government’s efforts to mobilize domestic revenues, advance the fiscal federalism agenda, and continue the roll out of public education services, in particular through the National Teacher’s Initiative.
The EU Ambassador to Somalia, Ms. Karin Johanson, noted: ‘The disbursement of this budget support payment signals the EU’s strong support of Somalia’s progress on managing its public finances in an accountable and transparent way. It is also a strong signal of the FU’s commitment to Somalia’s development and progress on implementing the EU-Somalia Joint Operational Roadmap.”
On his part, Somalia’s Finance Minister Bihi iman Egeh, stated: “EU budget support provides essential funding and asistance to the federal government to implement key financial governance reforms and significantly enhance the provision of basic social service delivery in Somalia”.
Cumulatively, under the current and previous SRBCs, a total amount of EUR 101.4 million has been released since 2018 as budget support to the Federal Government of Somalia (f GS). The EU budget support operation has assisted the Federal Republic of Somalis to reach the HiPC Completion Point and ensure the delivery of core state functions.
The EU has reiterated its commitment to continue supporting economic development and financial governance in Somalia through continued budget support and technical assistance.
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