Finally, Djibouti has signed a loan agreement deal worth $5 million with the Saudi Fund for Development to support economy in the country.

CEOAFRICA.com gathered that the agreement was signed by Djiboutian Minister of Economy and Industrial Finance, Ilyas Moussa Dawaleh, and Yousef Bin Ibrahim al-Bassam, Vice-President of the Saudi Fund for Development. The agreement is intended to diversify the national economy by funding small and medium enterprises and is expected to create 2,400 jobs for Djiboutian graduates.

It was further gathered that a significant proportion of the funding has been reserved for women. It will finance a number of projects in areas such as agriculture, fishing, transport and trade. The Minister noted that reducing unemployment, particularly among the young, was an absolute priority for the Government and for President Ismail Omar Guelleh.