MOGADISHU– The European Union and its partners on Wednesday launched a 94 million U.S. dollar program to boost economic development in Somalia.
Fulgencio Garrido Ruiz, EU Chargé d’Affaires to Somalia said the aim of the Inclusive Local and Economic Development (ILED) program is to contribute to stability in Somalia by an integrated territorial approach supporting local governance and stabilization, promoting inclusive economic opportunities and protecting the most vulnerable.
“This program along with the recent budget support sets an important improvement in the EU partnership with Somalia and its strategy in the country, based on an increasing engagement with the national and local institutions and strong focus towards local implementation and service delivery,” Ruiz said in a statement issued in Mogadishu.
Ruiz said the programs will be tailored to the political, security and social needs of the targeted areas.
He said a specific technical structure will be established to ensure the participation of Somali partners in the design and implementation of the specific actions along with the selected implementing partners.
“We are proud of the results of our ongoing cooperation and we welcome the ILED initiative to support our long-term efforts to build a better future for all Somalia as well as to promote investments and economic relations with our European partners,” said Gamal Hassan, Somalia’s minister of planning, investment and economic development. Source:Xinhua