The President of the Republic Somaliland Muuse Biihi Abdi has today announced the establishment of the long-awaited Somaliland Youth Development Fund (SYDF).
According the a press release issued by the Presidency, the Fund is aimed at enhancing youth creativity, innovation and entrepreneurship capabilities.
“The Youth Development Fund will essentially promote the entrepreneurship and creativity of the youth in Somaliland with the objective of helping them develop mentally and financially and also inspire youth who are able to contribute to the development of the economy and are free from the social ills including tribalism, substance abuse and other inappropriate behaviors” the statement reads.
The President also established the governing body of the SYDF comprising cabinet members, representatives from the civil society, the private sector and prospect donors.
The Board of Directors will specifically consist of:
- Minister of Youth and Sports (Chairman)
- Chairwoman of Nagaad Women’s Network (Deputy)
- Chairman of Somaliland Youth umbrella SONYO (Secretary)
- Minister for Investment Development (Member)
- Minister of Employment, Social Affairs and Family (Member)
- Chairman of Chamber of Commerce (Member)
- Two members representing donors (Members)
- Three members representing large companies (Members)