USAID’s Partnership for Economic Growth program today launched the Partnership Fund, the first USAID grants program for the private sector in Somaliland. $900,000 is being awarded to 13 private businesses. 250 new full time jobs, with an estimated one third for women and over 50% for youth, will be created in a variety of sectors, including livestock, dairy, fisheries, micro-finance, energy, and general trade. Over 1300 businesswomen and men will find better employment opportunities as a result of the Fund’s investment in new technologies, new processing facilities, and improved product distribution.
Nearly 300 proposals underwent a transparent competitive selection process involving the Partnership program, government officials, and the Somaliland Chamber of Commerce. Proposals were rated based on feasibility, the number of jobs being created, and the businesses’ own financial or in-kind contribution.
USAID Partnership Fund grantees and Somaliland government officials at the launch
The Minister of Commerce, Industry and Tourism, Abdirizak Khalif Ahmed, the Chairman of the Agricultural Committee of the Chamber of Commerce, Industry and Agriculture, Engineer Mohamed Yusuf Iman, the Minister of Agriculture, representatives from the Ministries of Planning and Mines, Energy and Water Resources, USAID representatives, and the 13 grantees participated in the launch. “The business community is really thankful for the Partnership Fund, said Yusuf Mohamed Ali of Horumar Camel Dairy Farm, because without commercial banks, there are very few ways to grow a business.”
This initiative is part of the USAID Partnership for Economic Growth program, a $13 million program which partners with government and private sector to promote investment and strengthen livestock, agriculture, and energy production.
For more information, please contact Marybeth McKeever at email@example.com or visit http://eastafrica.usaid.gov/en/home.