Somalia Minister of Finance Bihi Iman Cige and the Japanese Ambassador to Kenya Mr. OGIHARA Hiroshi signed today an agreement with the Japanese government to forgive a sum of 14 billion Japanese currency, equivalent to more than one hundred million dollars.
This agreement signed today by the Minister of Finance follows the completion of the debt forgiveness process that is being negotiated with each country individually, which was the decision of the countries that joined the Paris Club in early March 2024.
Mr. Bihi Iman Cige, the Minister of Finance,thanked the people and the Government of Japan for generously announcing that they have forgiven all the debts owed to the Government of Somalia. The Minister also said that this is an encouragement to the Government of Somalia which is making a strong effort to reform the Finances and raise the Income to achieve economic self-sufficiency.
The Ambassador of the Government of Japan, which made a brief statement at the signing ceremony, promised that his Government will continue to work with the Government of Somalia and support them in the development projects that they carry out in Somalia.