Working with Somali People to Build Peace and Prosperity – Economic Growth and Job Creation

The support of the Productive and Private Sectors development in Somalia is critical. The EU has historically been one of the main donors in the livestock sector, actively supporting agriculture and recently engaged in fisheries. The main EU interventions combine institutional capacity building for main line ministries (policies, regulations, information, competences) with farmers/pastoralists direct support.

Private sector engagement is key to support and boost value chain development and job creation. Local private investments are an opportunity in the short term, but strategies need to be adapted. The EU strategy to address inclusive economic growth and job creation will combine direct support to selected value chains with policy and regulatory frameworks for business environment and private sector development. Since the establishment of the Public Private Dialogue and the involvement of the private sector in the National Development Plan the EU has maintained constant dialogue with the Chambers of Commerce at regional and national level both through informal meetings and the participation into the private sector fora organised in the framework of the work of IFC/WB supporting private sector development. As a result a stronger emphasis on partnerships with the private sector has been given in ongoing projects as well as in the design of new programmes, especially related to economic development and job creation. The EU contribution to the IFC Trust Fund for Private Sector Development, will be specifically targeted to strengthen the capacity and representativeness of the private sector organisations and increase their participation in policy dialogue and development strategies.