GENEVA - The Federal Republic of Somalia has become the 50th country to join the Enhanced Integrated Framework (EIF), the only Aid for Trade programme entirely dedicated to LDCs and recently graduated countries.
"The engagement with the EIF will provide a unique opportunity to mainstream trade into the 2014-2016 New Deal Compact. It will allow us to mobilize the best energies of our country, to show the world that Somalia is recovering from its wounds and is becoming an attractive place for business", said H.E. Mr. Adan Mohamed Noor, Somalia's Minister of Commerce and Industry.
"The EIF Board has unanimously approved the admission of Somalia as part of the broader international effort to support the path to the country's recovery. We are particularly delighted of this since, as we have seen in many other post-conflict situations where the EIF works, trade has a great potential to swiftly lift people out of poverty and instability through job and revenue creation", said Ambassador Minelik Alemu Getahun, Chairman of the EIF Board. He also praised H.E. Mr. Yusuf Mohamed Ismail, Permanent Representative of Somalia in Geneva for championing the membership of Somalia in the EIF.
The EIF already operates in 33 countries listed in the 2014 OECD Fragile States Report, where EIF funds are being used to support a variety of projects, ranging from supporting trade institutions and capacity development to building productive and export capacity in specific sectors, such as agribusiness, services and tourism.
The programme will officially start through the sponsoring of an introductory visit to Geneva of trade officials from the Federal Government of Somalia later in the year and the organization of a workshop in Mogadishu to familiarize stakeholders from the public and private sectors with the programme's objectives, approach and modalities.