Yesterday, Qatar expressed its delight at the decision by Bretton Woods Institutions to award Somalia the debt relief status.
The two global lenders arrived at this decision after Somalia justified its eligibility under the improved Heavily Indebted Poor Countries (HIPC) Initiative.
According to Qatar, Somalia is now on its way to enjoying and creating stability and prosperity for all citizens.
In recent years, Qatar has emerged as one of Somalia’s proudest and most important development partners.
It has initiated numerous development initiatives in the Horn of Africa nation. Its infrastructure investments have also enabled the war-torn nation to embark on economic development.
Qatar issued a statement that said, “Debt relief status is a momentous decision for Somalia. It heralds the beginning of a new era for the East African country.”
Furthermore, Qatar mentioned that Somalis are free to look forward to a bright future once international partners release the much needed foreign aid and investments.