Finland contributes $8.9 million to Somalia * somalia, World News and Opinion.
Mareeg Media

Finland contributes $8.9 million to Somalia

The Ministry for Foreign Affairs of Finland has made an additional contribution of EUR 8.1 million ($8.9 million) to the Somalia Multi-Partner Trust Fund (MPF), administered by the World Bank.

The additional funds into the MPF will boost financing through government systems for the sustainable reconstruction and development of Somalia. The overall goal of the Somalia MPF is to strengthen the capacity of the state to build systems and institutions that deliver services to the Somali people. The funds follow an original contribution of EUR 4 million ($4.4 million), bringing the total contribution to EUR12.1 million ($13.4 million).

“We are pleased with how much progress has been made in developing Somalia’s institutions and delivering on reforms since 2012,” said Finland’s Ministry of Foreign Affairs, Ambassador Erik Lundberg). “However, many challenges remain, particularly in ensuring services are delivered to the poorest and most vulnerable. The Government of Finland is committed to helping the Somali authorities meet these challenges and rebuild Somalia.”

Activated in August 2014, the MPF is one of the pooled funds established under the Somalia Development and Reconstruction Facility, a facility that brings together Federal Government, Federal Member States, Parliament and the international community. The MPF supports government-led state-building for service delivery and economic growth. Including the Finnish Ministry of Foreign Affairs, the MPF has received contributions of over $447 million from eleven donors.

“Finland continues to be an important partner to the World Bank through its engagement with the MPF,” said World Bank Country Manager for Somalia, Hugh Riddell. “With this contribution we will be able to further support the government capacities to improve service delivery and increase resilience in Somalia. Finland is an important voice in shaping the direction of the MPF.”

The MPF pools funds from international donors and provides grants directly to government. Implementation is done through government systems and institutions with close monitoring of fiduciary, social and environmental safeguards. In this way, the MPF has been supporting authorities at all levels of government to play a leadership role in rebuilding peace and prosperity in Somalia.


Get real time updates directly on you device, subscribe now.

Comments are closed.

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More somalia, World News and Opinion.