MOGADISHU [SMN] – The government of Somalia has said it greatly welcomed financial aid from the European Union [EU] that support is a budget subsidy.
In a Twitter post, Prime Minister Hamza Abdi Barre said that the EU assistance is timely, adding that this money will be used to facilitate the efforts to achieve the nation’s goals.
For his part, the Minister of Finance of Somalia Elmi Nur said that the payment will strengthen the reforms in Somalia and the debt relief which is in the final stages.
On Thursday, European Union announced that it has approved an amount of 20.5 million euros in budget support for the Federal Government of Somalia.
EU Ambassador to Somalia Tinna Intelman said that Somalia will soon reach a historical stage of debt relief “The completion point”, which will bring new opportunities.
Since the collapse of Somalia’s central Govt in 1991, the EU has been a strong pillar for the government in Mogadishu, helping in the areas of security, politics, and economy.
Cumulatively, under the SRBC, a total amount of EUR 82.9 million has been released since 2018 as budget support to the Federal Government of Somalia (FGS).
