About Economic Development Department
The Economic Development Department (EcoDev) was created in January 2021 to strategically build and strengthen coordination for economic development efforts in Somalia towards a sustainable pathway to economic growth and poverty reduction. The goal is to (a) support FMS ministries of planning to develop state strategic plans in line with NDP9 priorities, (b) translate these regional plans into actionable policy interventions for investments, (c) empower FMS ministries planning through a capacity building programme intended to strengthen analytical capability for effective policy development and implementation, and (d) work closely with existing structures for coordinating economic recovery and resilience in order to ensure that milestones and targets for transitioning of overseas development assistance are agreed upon and observed across various sectors of the economy.
The Unit is broadly mandated to accelerate economic development to reduce poverty and build stability; develop macroeconomic framework and economic outlooks; undertake policy research and poverty analysis; through coordinating, creating, integrating, and strengthening frameworks and policies regarding the country’s economic spaces.
Economic Development Sections
The Economic Development Department sections is composed Two as indicated below.
Economic Policy Coordination Section
Economic Pillar (NDP) Section
Vision
and Mission
Vision
Establish a unified economic development agenda through coordination, coherency, and efficacy to reach equitable economic growth and the eradication of poverty in Somalia
Mission
Take a strong coordinating role in Somalia to create inclusive development policies and strategies that facilitate sustainable economic growth across priority sectors.
Main Objectives
- Support new strategies and policies to optimize employment, productivity, and therefore economic growth
- Coordinate among all government institution to develop a coherent national economic agenda
- Contribute to increasing living standards of the population and human development by reducing poverty and facilitating sustainable economic development