MOGADISHU (SD)-The Minister of Finance of the Federal Government of Somalia, Mr. Bihi Iman Egeh, held an important meeting with the European Union Ambassador to Somalia, Ms. Karin Johansson, and members of her office.

During the meeting, the Minister provided a comprehensive report on the government’s efforts to develop the country’s economy and increase domestic revenue.

The EU Ambassador to Somalia welcomed the Minister’s report on the progress the government has made in improving financial management and economic transparency in the country.

Ms. Karin Johansson announced during the meeting that the European Union would provide nine million euros to support the government’s budget. This funding is intended to assist the government in enhancing revenue development, federalizing the financial system, and promoting inclusive education.

Following the announcement, Minister Bihi Iman expressed gratitude and emphasized that the EU’s support is crucial for the Federal Government of Somalia. He affirmed that the government would implement developmental plans that would significantly contribute to the country’s economic reform process.

The European Union is one of the consistent partners of the Somali government, having supported Somalia through various phases. They also played a significant role in helping the government reach the HIPC (Heavily Indebted Poor Countries) initiative, which culminated in Somalia’s debt relief program that concluded in late 2023.