Somali ministry for finance launches Somali Core Economic Institution and Opportunities project

Somali ministry for finance has launched project dubbed Somali Core Economic Institution and Opportunities project (SCORE) aimed at creating  jobs for Somali youths.

The project is funded by World Bank which will operate in direct collaboration with Mogadishu port and Somali Central Bank authorities.

At the launching ceremony, Somalia’s minister for finance, Mohamed Adan Ibrahim Fargeti said the project which will run for three years would improve the cooperation between the ministries such as ministries for ports, trade and Somali Central Bank.

He also pointed out the project will work closely with the private sectors in a bid to create for jobless Somali youth.

Fargeti said the project will be implementing in different places across Somalia.

The launching ceremony was attended by minister for ports, trade, the finance minister of the semi-autonomous regional state of Puntland and many other delegates.

Most of the people in Southern Somalia especially the youth who graduated from the various Universities in the country are jobless, the youth believe that their rightful positions of work were taken over by foreigners from the neighbouring countries and other nations in the continent attracted to Somalia by the stability.

Many people accept as true that the increasing unemployment in Somalia, especially among university graduates, has fuelled conflicts, theft, migration of young energetic, skilled and semi-skilled people from Somalia and drug addiction.

Thousands of Somali youths migrate to European and Arab countries seeking jobs, this poses a great risk to their lives and scores die every day on the shores of those countries.

To make things worse, those who remain in the country run the risk of been recruited by the warring groups in Somalia fueling the ongoing conflict in the country.