The Federal Government of Somalia and the European Union signed today a € 100 million European Union direct support for the government budget.
The agreement was signed at a ceremony held at the prime minister’s office and was attended by Prime Minister Hassan Ali Khaire, saying that the European Union is paying € 100 million to the central bank.
Minister of Planning, Investment and International Development of the Somali Federal Government, Jamal Mohamed Hassan and the European Commission’s Director-General for International Cooperation and Development Stefano Manservisi, jointly signed the agreement.
Prime Minister Hassan Ali Khaire said the agreement is a great opportunity for the country to repatriate the country and to finance self-sufficiency, thanks to the public and the Somali business community that supports the government’s trust in the international community.
The European Union has decided that the government will be directly supported due to its oversight and substantial financial reforms recently approved by then € 100 million which are directly deposited into the state treasury.”
Today is a big day, this occasion reflects the repatriation of trust between government and state member states, the trust and trust that the Somali people have in government and the trust of the international community
The international community, the World Bank are concerned that Somalia has been experiencing a dramatic change from the current economic crisis.