Germany has cleared Somalia’s debt to the International Fund for Agricultural Development (IFAD).
Khadija Mohamed Al-Makhzoumi announced this early this week.
Al-Makhzoumi is Somalia’s Minister of Environment and Climate Change.
She made the announcement following her meeting with Jochen Flasbarth, the Germany State Secretary in the Federal Ministry for Economic Cooperation and Development.
Over the years, IFAD has supported Somalia financially through various loans and grants.
IFAD has invested more than $140 million in Somalia since the 1980s in nine programs and projects.
It only invests in programs and projects designed to promote agricultural development in the East African nation.
The funds have directly benefited over 1.7 million beneficiaries in Somalia.
Earlier this year, IFAD and the Somali government signed a grant agreement worth $1.07 million for financing the Resilience Livelihood Action to COVID-19 (RLAC-19) Project.
Al-Makhzoumi did not state the exact amount that Germany cleared on behalf of Somalia, though.
