Mogadishu(Mogadishu24)-The European Union (EU) has on Monday announced, providing a EUR 9 million budget support payment to the Federal Government of Somalia (FGS) under the Somalia State and Resilience Building Contract (SRBC II).

The funds are aimed at bolstering Somalia’s macroeconomic stability, public financial management, and key reforms, including domestic revenue mobilization, advancing fiscal federalism, and expanding public education services through initiatives like the National Teacher’s Initiative.

EU Ambassador to Somalia, Ms. Karin Johansson, emphasized that this disbursement signals the EU’s commitment to Somalia’s progress in transparent financial governance and development.

“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,” she said.

Somalia’s Finance Minister, H.E. Bihi Iman Egeh, noted the significance of the funding for implementing essential financial governance reforms and enhancing basic social services.

Since 2018, the EU has released EUR 101.4 million in budget support to Somalia, contributing to the country’s achievement of the HIPC Completion Point and enabling the delivery of core state functions.

The EU reaffirms its commitment to supporting Somalia’s economic development and financial governance through continued budget support and technical assistance.