IFAD Seeks To Increase Its Financial Assistance To Somalia

The International Fund for Agricultural Development (IFAD) has announced that it will significantly increase its support for Somalia and resume its direct investments after a three-decade suspension due to loan arrears, which has caused millions of Somalians to experience acute food insecurity.

President Alvaro Lario noted, “This comes at a critical time when Somalia is experiencing serious difficulties to its food security,” during the 46th session of the IFAD Governing Council.

Hassan Sheikh Mohamud, the president of Somalia, welcomed the re-engagement but urged powers to give more than just emergency aid to nations like Somalia.

The Integrated Phase Classification estimates that 5.6 million Somalians are currently suffering from severe acute food insecurity, with 214,000 of them being deemed to be in a catastrophic condition as a result of an extreme drought that has not been witnessed in decades.

According to projections, between April and June 2023, 8.3 million Somalians could experience severe acute food insecurity.

This involves guarding against the deaths of about 6.7 million of the most defenseless individuals.

IFAD has been aggressively soliciting funding from donors to Somalia and directing resources for the country’s rural development programs despite the arrears and the suspension of loans.

The IFAD has provided Somalia with around $40 million in aid since the early 1990s. Currently, there are two active projects.

For instance, a project in Puntland aids pastoralists and agropastoralists in restoring damaged rangelands, using drip irrigation, improving animal health, and rehabilitating irrigation systems.

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