AMSTERDAM (KAAB TV) – Puntland’s Vice President, Ilyas Osman Lugatoor, has announced the creation of a new Puntland Development Fund with an initial budget of $20 million, during a speech delivered to the Somali diaspora in the Netherlands.
The Puntland State Government will contribute $5 million as the first installment, and Lugatoor urged the diaspora and international community to play their part by contributing to the fund, which is designed to support development and infrastructure projects across the region.
Currently on a tour of Europe, Vice President Lugatoor emphasized that the fund will be used to enhance infrastructure and further the development of Puntland.
The announcement comes amidst tensions with the Somali Federal Government, which Puntland leaders accuse of blocking development funds due to Garowe’s opposition to changes made to the federal constitution earlier this year.
Vice President, Mr. Lugatoor reiterated that Puntland would remain committed to its developmental goals, despite the challenges from Mogadishu, and stressed the importance of international support in ensuring the success of the new development fund.