Somalia Counter-piracy Initiative Wins Cash

Press Release
Wednesday, May 8, 2013

Somalia wins extra cash, military aid, at the recent London donor summit.

Britain will help boost radio communications on the Somali coast to combat piracy that the World Bank has estimated costs the world economy $18 billion despite the dramatic drop in incidents so far this year, reports Reuters.

At the end of the London summit Britain committed around 180 million pounds ($279 million), including funding for a planned doubling of the police force, and the United States donated $40 million on top of the $1.5 billion it has given since 2009.

Source: Reuters

 

Categories: Finance Legal Maritime Security

Related Stories

New Wildlife Trafficking Compendium Released for Singapore

New ISO Vessel Hull Cleaning Standard Published

FMC Issues Warning on Strait of Hormuz Surcharges

Current News

CMA CGM Celebrates Maiden Call of New Port Kobe Service

New Wildlife Trafficking Compendium Released for Singapore

Australia’s Port of Newcastle Sets Diversified Trade Record

Bahrain Circulates Revised UN Hormuz Draft

Subscribe for Maritime Logistics Professional E‑News