MOGADISHU (Somaliguardian) – Somalia’s government received $75 million grant, the second in a series of two grants to help build strong public institutions and advance towards progress on its efforts to qualify for debt relief, the World Bank said on Monday.
“This DPF supports the government’s aspirations to build the foundations of a modern economy with strengthened institutions. It also signals the significant progress Somalia has made in terms of institution-building and economic development, paving the way for a more stable and sustainable future,” said Kristina Svensson, World Bank country manager for Somalia.
Somalia’s government welcomed the move, saying it is essential for its ongoing efforts towards economic reform.
“FGS is truly grateful for the timely budget support from World Bank,” Somalia’s Finance Minister Bihi Ege said. “The support at this vital time of implementing our successful economic reform program will ensure we are able to continue our efforts to build a strong and inclusive economy.”
Contact us: info@somaliguardian.com
