IsDB signs US $4.9 million agreement to support higher education in Somalia

Jeddah, Kingdom of Saudi Arabia, 26 July 2016 – The Islamic Development Bank (IsDB) has signed $4.9 million agreement with Towfiq Welfare Trust to support higher education in Somalia.
Dr. Ahmet Tiktik, Vice President (Human Resources & Corporate Services) signed the agreement on behalf of IsDB, while Dr. Mohamed Abdi Aden, Chairman of Towfiq Welfare Trust, represented his organization.

The agreement finances the purchase of a building as a Waqf (endowment) for Kismayo University in Somalia under the umbrella of Towfiq Welfare Trust. The project will support 6000 students along with 1500 orphans who receive funding from Somali expatriates and global philanthropists for higher education. The university provides training in education, medicine, community development, economics and management.

Dr. Tiktik expressed his satisfaction with the agreement and congratulated Towfiq Welfare Trust for serving the people of Somalia. The Vice President also thanked the Awqaf Investment Division for visiting Somalia to appraise the project.

Dr. Aden noted that as peace returns to Somalia, his organization is working with other international stakeholders to support the education of both males and females, especially in the areas of health and medicine.