EU approves 1st budget support to Somalia as trust grows

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The European Union says it has approved 100 million euros ($116 million) in its first-ever budget support to Somalia’s government in the latest sign of confidence in a country long shattered by conflict.

The EU announcement comes a day after the World Bank said it would provide $80 million in direct financing to Somalia’s government for the first time in 27 years, calling it a “milestone.”

The EU statement says “this combined response opens entirely new opportunities” in Somalia’s nation-building and will help to increase local authorities’ role in providing basic services.

The money from the EU, which calls itself the largest donor to the Horn of Africa nation, will be disbursed until 2021.

Somalia’s federal government remains fragile and the al-Qaida-linked al-Shabab extremist group remains a deadly threat.

AP

1 COMMENT

  1. Sad that Somaliland’s Government recieved no budget support like that from the EU. ($100,000,000)

    Sad that Somaliland’s Government recieved no $80,000,000 from the World Bank.

    Just all around a sad sad news.

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