Somalia and Italy launch a new fund to promote peace and stability

 Somalia and Italy announced the launch of a new fund to support the country's efforts to achieve peace and stability. Prime Minister Hamza Abdi Berri inaugurated the fund in partnership with the Italian government.

In his speech on the occasion, the Prime Minister stressed the importance of the Fund in enabling Somalia to take the initiative in providing tangible benefits to its citizens, thus promoting lasting peace and stability. He said the fund would focus on areas such as governance, security, justice, social services, economic development and humanitarian aid.

The Prime Minister also explained the Fund's ambitious goal in collecting donations, and called on donors and partners to play an active role in contributing to this financing. He said that the Fund will work in accordance with the principles of transparency, accountability, and alignment with national priorities.

Berri expressed his deep appreciation for the support and cooperation of all international stakeholders in the country's path towards social, economic and political stability, and in confronting the government-led war against terrorists. He said that Somalia is committed to working with its friends and allies to overcome the challenges and seize the opportunities available to it.

The Peace and Stability Promotion Fund is a new initiative aimed at enhancing the coordination and effectiveness of international assistance to Somalia. It is expected to complement and strengthen existing mechanisms such as the Somali Development and Reconstruction Facility and the Comprehensive Approach to Security. The Fund will be managed by a steering committee composed of representatives from Somalia, Italy and other donors.