Somalia is to receive a donation of US$30 million from Turkey. The donation is the result of an international agreement that Somalia signed with Turkey in July.
Consequently, Ankara is to disburse US$2.5 million each month to Mogadishu from August.
Turkey announced this on August 5 through its Official Gazette.
The notice bearing this announcement bore the signature of the Turkish President Recep Tayyip Erdogan.
Turkish government signed this international agreement on July 1, 2021.
Upon receiving the funds, Somalia would then use them for financing its budget while building the capacities of its various institutions too.
This is the latest example of years of fiscal cooperation between Somalia and Turkey.
In 2016, Somalia received a donation of US$24 million from Turkey. In 2017 and 2019, the East African nation received US$30 twice thus bringing the total for those three years to US$84 million.