MOGADISHU, Somalia — In a significant move bolstering Somalia’s economic recovery, Finance Minister H.E. Bihi Iman Egeh signed a debt relief agreement with Japan on Thursday, amounting to ¥14 billion, approximately a hundred million dollars.
The agreement was inked alongside Mr. Ogihara Hiroshi, the Deputy Head of Mission at the Japan Embassy in Kenya.
“This follows the successful debt relief process and the Paris Club agreement of March this year, which supported debt cancellation for Somalia,” Minister Egeh stated after the signing.
He expressed gratitude towards the Japanese government and its people for their continued support. “I thank the Japanese government and people for their unwavering support of our economic reforms and growth,” he added.
The signing of the agreement is seen as a step towards financial restructuring in Somalia. Minister Egeh emphasized that the relief would aid in enhancing the national income and push Somalia closer to achieving financial independence.
