Somalia, Italy launch new fund to promote peace and stability

GOOBJOOG NEWS | MOGADISHU: Somalia and Italy have launched a new fund which will support the Federal Government’s efforts to achieve peace and stability in the country.

The fund dubbed “Towards Peace and Stability in Somalia” (TPSS) will promote government’s initiatives aimed at delivering crucial services to the Somali people and will focus on governance, justice, social services, economic development and humanitarian assistance.

Speaking during after officiating the Fund’s launch in Mogadishu, Federal Government of Somalia’s Prime Minister Hamza Abdi Barre called on donors and other development partners to contribute towards the fund saying the government will ensure transparency, accountability and alignment of the fund towards national priorities.

He thanked Somalia’s international partners for its continued support as the country continues its journey towards socio-economic and political stability amidst the ongoing war against the Al-shabaab.

The TPSS Fund is a new initiative that aims to enhance the coordination and effectiveness of international assistance to Somalia.

It is expected to complement and reinforce existing mechanisms such as the Somali Development and Reconstruction Facility (SDRF) and the Comprehensive Approach to Security (CAS). The fund will be managed by a steering committee composed of representatives from Somalia, Italy, and other donors.