The EU has pledged 650 million euros in what is being hailed as a ‘New Deal’ for Somalia.
The money will be used to support the country’s new government in its peace and state-building efforts over the next three years.
Somali President Hassan Sheik Mohamoud told reporters in Brussels that “millions of lives of somalians have been saved by support of the EU funds.”
“Millions have been created hope through providing education, health and other public service facilities,” he said.
China has also been a strong backer of the the Somali government and Beijing has made a great effort to deepen its economic ties with the country…as it has done in other parts of Africa.
Zhong Jianhua, China’s Special Representative on African Affairs, told euronews that the accord shows “the progress made by the new government” in bringing greater stability to Somalia.
The EU has been involved in operations to combat piracy off Somalia’s coast, which the World Bank more than 13 billion euros a year.
But the hardline Islamist Shebab rebels, which control controls large parts of the country’s south, dismissed the donor conference as a waste of time.
“It’s a bit like Belgian Waffles: sweet on the outside but really has not much substance to it,” the group wrote on its Twitter page.