Italian government issues €1 million euros for Somalia infrastructure development.

Somalia government is set to receive funds which will help grow the country Infrastructure. This is after Italian government signed a deal with African Development Bank (AfDB) Multi-Partner Somalia Infrastructure Fund. The fund is worth €1 million euros.

Somalia is one of those Africa countries that has suffered a lot especially in the infrastructure sector. This is due to terrorist attack on the nation that has destroyed so many infrastructures in the nation.

This fund will aim to support and accelerate Somalia’s inclusive and sustainable economic recovery, peace and state building. It will also help in the rehabilitation and development of the country’s infrastructure. Meanwhile, the fund will be under the Somalia Development and Reconstruction Facility of the New Deal Compact for Somalia.

AfDB’s Senior Communications Officer Chawki Chahed said “This latest contribution will be use to co-finance the Somalia Regional Corridors Infrastructure Programme (SRCIP). With the support of the European Union (EU), the bank and other partners.”

The infrastructure development was an important enabler of economic growth as it attracted investments and job creation according to Italian Ambassador to Somalia, Carlo Campanile.

Charles Muthuthi representing  Deputy Director-General of the bank’s Eastern Africa Regional Office Nnenna Nwabufo said the development finance institution would continue to leverage its resources and capabilities. They will support Somalia’s infrastructure rehabilitation and economic development programmes.”

The development is a huge boost to the nation as it signify their desire to unite towards infrastructure development.

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