Somali Prime Minister Hamse Abdi Barre and his delegation attended the South Korea-Africa summit in Seoul, South Korea, which officially opened today.
The summit, which includes delegations from 48 African countries, will address global challenges such as climate change, food shortages, and health issues.
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At the opening of the summit, President Yoon Suk Yeol announced billions of dollars in new aid and investment support for Africa as South Korea looks to boost trade ties with the continent.
Prime Minister Barre is scheduled to deliver a speech at the summit this afternoon, focusing on investment opportunities in Somalia and the government’s efforts in the areas of security, the economy, and social affairs.
During his stay in Seoul, he will hold separate meetings with the leaders participating in the conference to discuss the general situation in Somalia.
Tanzania and Ethiopia announced that they had signed accords with South Korea for loans amounting to billions of dollars, as part of broader deals that will give the Asian nation access to Africa’s crucial mineral resources and vast export market.
Tanzania stated it will borrow $2.5 billion over the next five years from South Korea through concessional loans. Meanwhile, Ethiopia, a fast-growing economy with 126 million people, signed a $1 billion financing deal over four years for infrastructure, science and technology, health, and urban development, according to the state-affiliated Fana media outlet.
