Somalia Joint Fund (SJF) is now fully operational.
SJF was launched on Wednesday in a ceremony held in Mogadishu.
Deputy Prime Minister Salah Jama launched the fund.
The fund is the creation of the Ministry of Planning, Investment and Economic Development.
SJF is one of the largest country-level development funds in the world.
Since 2014, the fund has attracted over $500 million in contributions.
Sweden, Denmark, Switzerland, Norway, and the European Union have been among the top contributors.
Salah announced that the fund seeks to raise $60 million yearly to support critical priorities in the East African nation.