MOGADISHU, (HAN) – The European Union (EU) Special Envoy to Somalia has confirmed that talks were held with Somalia’s Minister of Finance and the Director of Mogadishu Port on potential investments by the European Development Bank in the country’s seaports.
During the meeting, the Somali government presented its New Port Master Plan to the EU, outlining the current operations of Mogadishu Port as well as long-term plans for expansion and modernization.
Somali Finance Minister Iman Bihi Ige underscored the vital role of modern seaports in boosting trade, enhancing regional connectivity, and driving economic growth.
He further revealed that Somalia has also approached other international partners, including the Saudi Development Fund, to secure additional financing for the country’s maritime infrastructure.
According to the Ministry of Finance, the planned Mogadishu New Port project is expected to attract over $1 billion in funding, making it one of the largest infrastructure investments in Somalia’s recent history. Once completed, the port is expected to increase import and export capacity, create thousands of jobs, and strengthen Somalia’s position as a trade hub in the Horn of Africa.
EU representatives reiterated their commitment to supporting Somalia’s economic recovery and highlighted port development as a cornerstone for long-term stability, regional integration, and sustainable growth.
The Somali government expressed optimism that with combined support from the European Union, the European Development Bank, and the Saudi Development Fund, the country will be able to establish modern, competitive seaports capable of serving both national and regional markets.
