Somali Magazine September 13,2023-Somalia and Italy have announced the launch of a new fund to support the country’s efforts to achieve peace and stability. The fund, called Towards Peace and Stability in Somalia (TPSS) Fund, was inaugurated by Prime Minister Hamza Abdi Barre in partnership with the Government of Italy.
In his keynote remarks at the event, PM Barre stressed the significance of the TPSS Fund in empowering Somalia to take the lead in delivering tangible benefits to its citizens, thereby fostering lasting peace and stability. He said the fund will focus on areas such as governance, security, justice, social services, economic development, and humanitarian assistance.
The Prime Minister further outlined the fund’s ambitious fundraising goal and called on donors and partners to take an active role in contributing to this pool of funding. He said the fund will operate under the principles of transparency, accountability, and alignment with national priorities.
The PM also expressed his deep appreciation for the support and collaboration of all international stakeholders in the country’s road to socio-economic and political stability, in the face of government-led fight against Kharijite terrorism. He said Somalia is committed to working with its friends and allies to overcome the challenges and seize the opportunities ahead.
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.