USAID programs work with local authorities and private businesses to advance stability through economic growth.
USAID is improving the investment climate as well as creating jobs in livestock, farming and agribusiness, energy production, and other sectors. To improve the investment climate, USAID conducted surveys to identify impediments to growth and address them through policy reform.
- Surveys identified the high cost of energy and its unreliability as a major economic growth impediment. At $1.50/kilowatt, energy costs are among the highest in the world. USAID supported the development of the Somaliland energy act and promoted wind as an alternative energy. The combination of these efforts will increase access to energy and reduce the costs for consumers and the private sector.
- Another impediment identified was the absence of business laws. USAID responded by helping Somaliland reform policies related to commerce and investment. Undertaking policy reforms re-establishes economic governance, removes barriers to growth, attracts foreign investment and positions the economic to grow more steadily, ultimately helping to reduce poverty.
USAID assists in improving the environment for local businesses and investors. USAID provided business skills training to youth and the private sector, gave investment capital to deserving private enterprises to address a lack of capital in the market place, and supported local farmers and veterinary institutions to increase agriculture production and protect the health of livestock.
Last updated: May 10, 2013