Mogadishu (SD) – Minister of Finance of the Federal Government of Somalia Dr Abdirahman Duale Beyle and World Bank Representative to Somalia Kristina Svensson signs $ 445 million World Bank grant in Mogadishu for development projects.

The Minister also discussed with the World Bank Representative for Somalia along with IFC Africa Administrator for Somalia Amina Arif on the country’s financial reforms.

“I welcome Kristina Svensson, Representative of the World Bank to Somalia, at the Ministry of Finance today. We have signed a $ 445 million grant agreement for various development projects in Somalia, this is a testament to how much the world has trusted us since we met all the criteria for debt forgiveness. ” Said the Minister of Finance.

Bayle said the funds for the projects will be distributed across the country.

The World Bank has donated millions of dollars to Somalia in recent years. Last year the World Bank has invested more than 100 million dollars to fight Covid19 infection.