The European Union (EU) plans to release €140 million to support economic and political reforms in Somalia.
EU announced plans to release the funds on Thursday, June 30.
Jutta Urpilainen, the EU Commissioner for International Partnerships, broke the news.
According to Urpilainen, the 27-member EU bloc has approved plans to increase financial allocation to the East African nation.
The funds would help Somalia to support its pursuit of economic and political reforms.
Further, the EU announced that Somalia would also use part of the funds to enhance its resilience in the face of adverse climate changes that continue to rock it.