By Shile GIWA
The Italian Government has signed agreement for an additional one million Euro contribution to African Development Bank (AfDB) Multi-Partner Somalia Infrastructure Fund.
Mr Chawki Chahed, the AfDB’s Senior Communications Officer said this in a statement in Abuja on Wednesday.
The fund was established by the bank in October 2016, and is one of the financing windows under the Somalia Development and Reconstruction Facility of the New Deal Compact for Somalia.
It aims to support and accelerate Somalia’s inclusive and sustainable economic recovery, peace and state building, through rehabilitation and development of the country’s infrastructure.
Chahed explained that itwould be Italy’s third injection of funds into the bank-managed Fund, bringing its total contribution to date to 3.5 million Euro.
“This latest contribution will be used to co-finance the Somalia Regional Corridors Infrastructure Programme (SRCIP), with the support of the European Union (EU), the bank and other partners.
“The signing of the agreement on 14 March 2019, was witnessed by senior bank staff from the Eastern Africa Regional office, and representatives of the governments of Italy and Somalia in Mogadishu.
“The ceremony followed the conclusion of a SRCIP appraisal mission to Somalia during which about 30 representatives of the Federal Government of Somalia, Federal Member States.
“The bank and the EU discussed the programme components, financing plans, implementation, procurement, financial and disbursement arrangements.” he said.
He said that those who represented Somali authorities at the agreement signing were Abdi Hoosow, Somalia’s Federal Minister for Public Works Reconstruction and Housing; Ahmed Mohamed, Minister, Southwest Ministry of Public Works and Ismail Goros, Minister Jubbaland State Ministry of Public Works.
The spokesperson quoted the the Minister of Public Works Reconstruction and Housing, Abdi Hoosow as saying that Somalia Regional Corridors Infrastructure Programme was of great importance to the country as it would not only enhance inter-State connectivity, but would also create jobs.
He added that it would also slow down recruitment of the youth by militant groups.
Chahed also quoted the Italian Ambassador to Somalia, Carlo Campanile as saying “Infrastructure development was an important enabler of economic growth as it attracted investments and job creation.
He said that Mr Guglielmo Giordano, Head of the Italian Agency for Development Cooperation in Somalia also noted that the presence of Federal Member States officials demonstrated Somalia’s desire to “unite towards infrastructure development.”
He said that Mr Charles Muthuthi, Somalia Macroeconomist at the bank who represented Nnenna Nwabufo, the Deputy Director-General of the bank’s Eastern Africa Regional Office, said, the development finance institution would continue to leverage its resources and capabilities to support Somalia’s infrastructure rehabilitation and economic development programmes.
The Multi-Partner Somalia Infrastructure Fund has so far received support from the bank, the Government of Italy, the European Union (EU), Islamic Development Bank and United Kingdom’s Department for International Development (DFID). ==Reuters
