Somalia and Italy launch new fund to promote peace and stability

Somalia and Italy jointly announce the establishment of a novel fund dedicated to advancing peace and stability within Somalia. This initiative, known as the “Towards Peace and Stability in Somalia (TPSS) Fund,” was inaugurated under the leadership of Prime Minister Hamse Abdi Barre in collaboration with the Government of Italy.

During his keynote address at the inauguration ceremony, Prime Minister Barre emphasized the pivotal role of the TPSS Fund in empowering Somalia to take a leading role in delivering concrete benefits to its citizens, thereby fostering enduring peace and stability. The fund’s primary areas of focus encompass governance, security, justice, social services, economic development, and humanitarian assistance.

Prime Minister Barre also outlined the ambitious fundraising target of the fund and called upon donors and partners to actively participate in contributing to this pool of resources. He underlined the fund’s commitment to principles of transparency, accountability, and alignment with national priorities.

He expressed profound gratitude for the support and collaboration extended by international stakeholders in Somalia’s journey towards socio-economic and political stability, particularly in the context of the government’s efforts to combat terrorism.

He affirmed Somalia’s dedication to working alongside its allies and friends to confront challenges and seize forthcoming opportunities.