The government of Somalia and the government of Saudi Arabia signed an agreement that allows restructuring of the debts owed to Somalia.
Somalia’s Finance Minister Elmi Nur and the chief executive of the Saudi Development Fund, Sultan Abdirahman Al-Marshad, signed the agreement at a ceremony held in Jeddah.
Read: Somalia’s president Hassan Sheikh history of corruption 2012-2017
Read: Somalia’s president Hassan Sheikh history of corruption 2012-2017
It was said at the ceremony that the repayment period of the loan owed by Somalia to the Saudi government has been postponed.
The Minister of Finance also held a meeting with the Director General of the Saudi Development Fund, Sultan Abdulrahman Al-Marshad and other heads of the Saudi government.
Read: Why is Somalia an unfortunate country?
Somalia’s Finance Minister Elmi Mohamoud Nur and the General Manager of the Fund jointly signed an agreement to restructure Somalia’s debts with the Saudi Development Fund, one of Somalia’s credit institutions.
On the other hand, the minister is participating in the annual meeting of the Islamic Development Bank in Jeddah to get more loan for Somalia shady president Hassan Sheikh and his family members, according to sources inside the presidential office told Somali Times.
Read: Why is Somalia an unfortunate country?
The meeting, which lasted for four days and was titled “Cooperation in the prevention of crises”, focused on the importance of cooperation in dealing with the challenges of the 57 member countries.
This event has become a platform for world leaders, policy makers, key stakeholders, and other influential people to come together and discuss important issues.