Nairobi: Somalia and Japan signed a landmark agreement in the Kenyan capital, Nairobi, today to exempt Somalia from over USD 100 million in debt.
The agreement was signed by Somalia's Minister of Finance, Bihi Iman Ageh, and Deputy Head of Mission at the Japanese Embassy in Kenya, Ogihara Hiroshi.
The Somali Finance Minister emphasized that this agreement builds on the recent successful debt relief process and follows the Paris Club agreement reached last March, which facilitated Somalia's debt forgiveness.
This development follows a similar agreement signed two days ago between Somalia and the United States, which relieved Somalia of USD 1 billion in debt.
