The European Union (EU) releases a EUR 9 million budget support payment to the Federal Government of Somalia (FGS) under the EU’s Somalia State and Resilience Building Contract[...]

Mogadishu- 30 September 2024- Today, the EU has released a EUR 9 million budget support payment to the Federal Government of Somalia in recognition of the Government's ability to maintain macroeconomic stability and implementation of key reforms to strengthen public financial management.

The funding supports the Government's efforts to mobilise domestic revenues, advance the fiscal federalism agenda, and continue the roll out of public education services, in particular through the National Teacher's Initiative.

The EU Ambassador to Somalia, Ms. Karin Johansson, noted: "The disbursement of this budget support payment signals the EU's strong support of Somalia's progress on managing its public finances in an accountable and transparent way. It is also a strong signal of the EU's commitment to Somalia's development and progress on implementing the EU-Somalia Joint Operational Roadmap."

H.E. Bihi Iman Egeh, Minister of Finance of the FGS, stated: "EU budget support provides essential funding and assistance to the federal government to implement key financial governance reforms and significantly enhance the provision of basic social service delivery in Somalia".

Cumulatively, under the current and previous SRBCs, a total amount of EUR 101.4 million has been released since 2018 as budget support to the Federal Government of Somalia (FGS). The EU budget support operation has assisted the Federal Republic of Somalia to reach the HIPC Completion Point and ensure the delivery of core state functions.