A top U.N. official on Wednesday said that while Somalia has “the best chance in two decades” to stabilize the country, security challenges continue to pose a threat to recent political gains. A transitional government headed by Sheikh Sharif is enjoying the support of “large segments of the population,” said Undersecretary General for Political Affairs Lynn Pascoe in a briefing to the Security Counci, and it “is actively reaching out to opposition groups to forge national reconciliation.” The Sharif government, in place for just three months, has made gains in building institutions necessary to support a state, said Pascoe. It has, for example, created a budget to pay security forces and it is also collecting revenue from Mogadishu port and avenue. Offshore, Somalia is beset by rampant piracy, but an international maritime force is forcing pirates further out to sea to capture ships, said Pascoe. A U.N.-established Contact Group on Piracy is expected to meet later this month to discuss a number of land-based counter-piracy initiatives. “The international community must make a vital investment at this time to nurture the fragile peace process, help the government establish its authority throughout the country and build its security and rule of law institutions,” Pascoe concluded.