Federal Government releases $6m of EU aid to regional governments

The Federal Government has allocated $6 million from the European Union donation to the Federal Member States and Banaadir region.

According to a statement from the Ministry of Finance, the main purpose of the funds is is to reform the States allocation of foreign donations, with each administration sending over one million dollars in budget subsidies.

The letter, signed by Finance Minister Abdirahman Beyle, attributed the new development to positive outcome of the meeting in Addis Ababa last week attended by the ministry of Finance Federal and Regional levels which analyzed various aspects of cooperative financial management in the country.

Regional governments have been allocated 40% of the EU’s 15 million dollar subsidy grants totalling $ 6 million for each state one million.

The states are required to set aside two-thirds if the funds for for security and social expenditures, while the rest will be spent by each administration as it wishes.

It also informed the regional states authorities to immediately send a letter requesting that the funds be used as stated in this letter and should be audited after 45 days.

 

Goobjoog News

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