Wednesday February 12, 2025
Mogadishu (HOL) – The Somali government has reached an agreement with the Abu Dhabi Development Fund (ADFD) to settle a longstanding debt of $257 million linked to the former Juba Sugar Factory project, marking a step in the country’s economic recovery efforts.
Somalia’s Minister of Finance, Bihi Iman Igeh, and ADFD Director General Mohamed Saif Al-Suwaidi signed the agreement on Tuesday in Dubai during the World Government Summit. The deal is part of Somalia’s economic reform agenda to resolve historical debts and increase financial stability.
“We have agreed to settle 944.8 million AED ($257.3 million) with the Abu Dhabi Development Fund at the World Government Summit in Dubai, marking a significant…
