CAPACITY FOR INVESTMENT PROMOTION AND ECONOMIC DEVELOPMENT

Background

The main objective of this project initiation plan is to support the Ministry of Planning, Investment and Economic Development (MoPIED) to strengthen three (new and interrelated) main functions: a) establishing national advisory economic development functions (NEC and EPAU, and technical support to the Pillar Working Group on Economic Development), b) establishing an appropriate investment promotion function and c) developing a supporting function allowing project ideas to be transferred into bankable investment proposals/projects.

Response

The present project is proposed to allow the Ministry to respond to the urgent requirements and expectations the Somalia society of the Somali Government to deliver on the priorities as documented in the National Development Plan, where economic recovery and increased resilience against natural or socio-economic shocks are paramount in the overall approach to improve the quality of life of the Somali citizens.

The specific areas that will be supported through this 6-months project are:

 Establishment of the National Economic Council;

 Strengthening investment promotion capacities in Somalia; and

 Establishment of Investment Project Design unit.

Status:

Ongoing

Project start date:

February 2018

Estimated end date:

December 2019

Focus area:

  • eradicate poverty in all its forms and dimensions
  • Project office:

    UNDP in Somalia

    Implementing partner:

    United Nations Development Programme

    Full project information  

    Funding Support by

    Donor name

  • United Nations Development Pro
  • Undp Funding Windows
  • Amount contributed

    $1,828,794

    Delivery in previous fiscal year

    2019 $428,519

    2018 $404,524

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