FTL Somalia

Somalia Receives €13.5 Million for Budgetary Support from the EU

Somalia has received €13.5 million from the European Union (EU) as budgetary support.

The EU announced that it would disburse the funds to the national treasury of Somalia as part of its ongoing support to the East African nation’s budget.

Somalia recently approved the largest budget in its history.

The country’s budget for the 2022/23 financial year is €896 million.

The EU has promised to support Somalia’s budget to the tune of €92.9 million. The funds disbursed on July 19 are part of that sum.

EU agreed to be providing budgetary support to Somalia in 2018.