Minister of Finance of the Federal Government of Somalia Mr. Bihi Iman Cige and the French Ambassador to Kenya and Somalia, Mr. Arnaud Suquet , in an agreement jointly signed to forgive the debts owed to the Somali government in a brief event held today at the French Embassy in Nairobi.
A press release from the Ministry of Finance of Somalia stated that this agreement has been negotiated in many phases, as well as following the decision made earlier this year by the countries that joined the Paris Club and today made it possible for the government of Somalia to officially granted a loan of $145.6 million dollars, which the French government deleted from its loan book.
“The government of Somalia is working hard to complete the debt relief process which will be completed by the end of 2023. The Ministry of Finance of Somalia which is the leader of the individual negotiations with the debtor countries, is now very optimistic about the completion of the process to cancel all the debts owed to Somalia” was said in the press release.
The Minister of Finance of the Federal Government of Somalia, Mr. Bihi Iman Cige, thanked the French government for their understanding and support for the Somali government and for the money they owed to the government.