200 million euro support to Somalia under the European Union Trust Fund for AfricaMay 11, 2017
Hat: The European Union steps up its support to Somalia with 200 million euro
Funding Scheme: 2017-05-11
Pgm2014 2020: Yes
The European Commission today announced new support worth 200 million euro at the London Conference on Somalia where partners agreed on a Security Pact for the country.
The EU’s support will help to accelerate Somalia’s economic recovery. This will be done by supporting the reforms needed to ensure Somalia full re-engagement with the International Financial Institutions, access to multilateral finance and debt relief. This will also help laying the foundations for more inclusive, stable politics including a roadmap to a more inclusive electoral process in 2020.
The development funding announced today will be channelled through the European Union Trust Fund for Africa, which aims to address the root causes of destabilization, forced displacement and irregular migration.
Url description: Press room - European Commission