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World Bank warns Somalia about lack of Audit Reports

MOGADISHU (SD) – The World Bank has issued a warning to the Somali government concerning the delay in submitting the audit report for the projects funded by the World Bank.

The report, originally due on June 30, 2023, has not yet been submitted, and this delay could have an impact on the approval of new projects that the World Bank has proposed for Somalia.

The World Bank stated that if the audit report for Somalia’s project accounts is not received within nine months from the due date, starting from the date of the scheduled submission, the Bank will take measures to suspend planned projects.

Currently, there are three World Bank-financed projects awaiting approval in April 2024.

The World Bank has urged the Somali government, within the nine-month period ending on March 31, 2024, to take action to prevent any adverse consequences resulting from the delay in the submission of the audit report on World Bank-funded projects in Somalia.

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