The EU on Wednesday launched a fisheries and livestock project to expand the Somali economy and improve the lives of farmers.
Nicolas Berlanga Martínez, the EU ambassador to Somalia, said the 14.7 million euro ($17.7 million) project is aimed at revitalizing the Somali economy, promote livelihood opportunities, create jobs and support inclusive growth where no one is left behind.
“It addresses the need for implementing a comprehensive and integrated approach to Somalia’s development, and contributes to stability by supporting four critical processes: stabilization, governance, economic growth and social protection,” added while speaking during the launch
The Resilient Fisheries and Livestock Value Chain for Inclusive and Sustainable Growth project’s focus is on access to markets for farmers, quality production of livestock and fish, and institution-building.
“Enhancing the livestock and fisheries sectors of Somalia will not only create much-needed jobs, but will also strengthen cooperation between the federal government and federal member states,” the EU official said.
Livestock rearing and fishing industries have been the major economic activities in Somalia for decades. However, the use of outdated farming methods limits the full potential that can be harnessed through innovative technologies.