Int'l conference urges more investment in Somalia

Wednesday February 24, 2016

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The representatives of more than 50 countries and international organizations called here on Tuesday for more investment in Somalia in support of the transition process in the Horn of Africa country.

"Bold steps should be taken now in reviving the investments in Somalia," said Turkish President Recep Tayyip Erdogan, who co-chaired a meeting which focused on humanitarian aid to Somalia with Somali President Hassan Sheikh Mohamud and U.N. Deputy Secretary-General Jan Eliasson.

Addressing a joint press conference, Erdogan stressed that international support is needed in Somalia until peace and stability are restored in the country.

With 100 million U.S. dollars poured into Somalia by Turkey's private sector in the last five years, Erdogan said he expected Ankara's total support to hit 370 million dollars.

Mohamud also highlighted the importance of international investments and aids for his country.

"For the first time in 47 years, Somali citizens will go to polls for a transparent election," Mohamud said.

Somalia was plunged into civil war in 1991 and a federal government was not formed until August 2012.

An estimated 4.7 million Somalis, or 38 percent of the country's population, are in need of humanitarian assistance, according to the UN Food and Agriculture Organization.

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