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US, Somalia Sign $92.6M Development Agreement to Boost Economy, Governance

News Desk by News Desk
August 29, 2023
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US, Somalia Sign $92.6M Development Agreement to Boost Economy, Governance
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(29/08/23)  MOGADISHU  – The Federal Government of Somalia and the United States have inked a Development Objective Assistance Agreement (DOAG) on Tuesday, solidifying their commitment to fortifying Somalia’s economy and governance. The landmark agreement, worth $92.6 million, was co-signed by Somalia’s Minister of Planning, Investment and Economic Development, Mohamud Abdirahman Sheikh Farah (Beenebeene), Minister of Finance, HE Bihi Iman Egeh, and Mr Shane Dixon, Chargé d’Affaires to Somalia on behalf of the US.

Minister Beenebeene remarked on the significance of the agreement, “I had the privilege of co-signing this historic DOAG with the Government of the United States. This collaboration aims to build resilience, stimulate our economic growth, and enhance governance.”

Echoing the sentiment, Minister Bihi stated, “This morning, in collaboration with Hon Beenebeene and USAID Somalia, I co-signed the DOAG which brings an additional $92.6 million for development projects. This support arrives at a crucial juncture for Somalia.”

The US Embassy underscored the importance of the agreement with a tweet: “Honored to stand alongside Minister BeeneBeene & Minister Bihi Egeh to sign an important assistance agreement for $92.6M in USAIDSomalia development funds. This agreement builds upon 17 years of U.S. development assistance to Somalia, our joint vision for resilience, and our shared commitment to a prosperous future.”

The agreement underpins the enduring relationship between Somalia and the United States. Envisaging a robust, stable, and prosperous Somalia, the DOAG focuses on leveraging common interests between both nations.

The funds from this agreement are set to propel developments in key sectors including infrastructure, education, and healthcare. As Somalia strives towards economic rejuvenation and robust governance, this agreement serves as both an endorsement and an impetus for international collaboration.

The United States has long been a strong partner to Somalia, providing not only humanitarian aid but also military support in the ongoing fight against Al-Shabaab, thereby deepening the multifaceted relationship between the two nations.

&

Honored to stand alongside Minister @HonBeeneBeene & Minister @BihiEgeh to sign an important assistance agreement for $92.6M in @USAIDSomalia development funds. This agreement builds upon 17 years of U.S. development assistance to #Somalia, our joint vision for resilience, and… pic.twitter.com/nNUex2s1Kz

— U.S. Embassy Mogadishu, Somalia (@US2SOMALIA) August 29, 2023


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