USAID to spend $75 million on farming, trade and fishing in Somalia

United States Agency for International Development (USAID) will spend $75 million to promote trade, creation of jobs and to combat food insecurity in the Somalia.

In five-day meeting that brought together fishermen, local traders, fishery investment companies and farmers from different parts of the country, USAID said the initiative sets to augment existing agricultural enterprises across the nation for improved food production and boosting internal trade.

USAID officials in the meeting said the initiative will introduce new business skills and create new business models that integrate local and international players in the value chain.

According to the agency, the 5-year project aims to build  capacity with strategic partners to help  for small-scale traders and fishermen in Somalia.

Mohamed Abdi Noor, head of Growth, Enterprise, Employment, and Livelihoods (GEEL) which is partner with US AID said the multi-million initiative targets to increase productivity, incomes and creation of jobs for  some 5000 youth across Somalia.

Noor said $75 million will help traders and processors to upgrade storage facilities and train farmers and fishermen on how to come up with products that meet market standards.

Fisheries officials hailed the programme saying it had come at the right time when the aquaculture sector is growing and braving for bigger markets.

Somali minister for fisheries, said the country was ready to provide food for locality but also globally.

He said there is need to increase financial resources by the government into the sector using new innovative means.

The United States Agency for International Development (USAID) funded programmes that will also contract more farmers to increase the production of food n the country