The Federal Government of Somalia (FGS) has signed a landmark agreement worth €98.2 million with the International Finance Corporation (ICF).
The agreement was signed on Wednesday, November 11.
Prime Minister Mohamed Hussein Roble witnessed the signing event. He signed the agreement on behalf of the Somali government.
As per the agreement, the funds would be invested in expanding the support the country’s businesses need.
Additionally, the funds are also to support the trade reform agenda.
ICF issued a statement stating that the funds would also go into helping the government create more jobs for Somalis.
On his part, Prime Minister Roble said that he was “honored” to grace the ceremony.
He mentioned that the government and all stakeholders would use the part of the money to promote “inclusive socio-economic empowerment.”