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Somalia receives €1.8 billion for rehabilitation

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Thursday, 19 September 2013

Somalia receives €1.8 billion for rehabilitation

Fifty donor countries pledged 1.8 Billion Euro to Somalia through the “New Deal Compact” to rebuild the country’s political, economic, and security institutions. This compact is a three year plan, agreed upon recently at a conference in Brussels, to aid the development in this country, which has seen war for the past twenty years. Providing 521 million Euro over the past five years, the European Union (EU) has been the largest donor to Somalia.
In 2012, Somalia elected a government which is the first to be recognized internationally  in twenty years. The EU’s foreign affairs chief Catherine Ashton notes that Somalian president Hassan Sheikh Mohamud has a great challenge in front of him. His main priorities at this moment are the reconstruction of the political institutions and the economy in his country.
While Somali militant group Al-Ahaabab claims that the current government is too corrupt to wisely and fairly appropriate the recently donated funds, the international community has faith in Mohamud’s government and its re-entry onto the world stage, assuming the new government becomes integrated into the its citizens’ lives in a positive fashion.

Source: EUobserver