Garowe, Puntland – In a significant stride towards effective administration of international grants and projects earmarked for implementation within Puntland, President Mr. Said Abdullahi Deni of the Puntland Government presided over an extraordinary session on Tuesday.
The high-level meeting witnessed the participation of a multitude of Puntland’s cabinet ministers and the President’s advisors, culminating in the formal establishment of the Puntland Economic Development Council (PEDC).
The newly instituted PEDC assumes the pivotal mandate of fostering economic progress, facilitating seamless coordination of global contributions, and promoting investments within the Puntland region. The Minister of Planning and International Relations of Puntland, Mohamed Said Faroole underscored that extensive scrutiny has been dedicated to foreign initiatives, particularly those channeled through the World Bank via the federal government, as well as those directly assigned to Puntland to address humanitarian concerns. This heralds the inception of an innovative framework dedicated to the proficient oversight of these benevolent endowments.
The inception of PEDC coincides with a period marked by prolonged non-cooperation between the Puntland Government and the Federal Government. Evidently, Puntland has levied allegations against the federal administration, asserting the utilization of Somalia’s financial grants as instruments of political leverage.
Minister Faroole offered assurances that PEDC is steadfastly committed to ensuring the judicious allocation of international grants and project resources, aligning with their designated objectives, and ultimately bestowing tangible benefits upon the citizens of Puntland. Conclusively, the Minister reaffirmed the council’s commitment to transparency and unwavering accountability in its operational sphere.
The establishment of PEDC constitutes a momentous stride towards the amplification of Puntland’s economic advancement. This proactive initiative is poised to galvanize heightened international investments and developmental support to fortify the burgeoning prospects of Puntland.