Browsing: Federal Government of Somalia

Somalia-China relations

The diplomatic Somalia-China relations have played a crucial role in the Chinese government’s development of over 80 infrastructure projects in Somalia, including the national stadium, Banadir hospital, and north-south highway.…

Subscribe to unlock this article

Login to read this article for free and get 3 free premium articles. Subscribe today for unlimited premium articles and more.

Digital Subscription – Monthly

Monthly renewing
You can cancel anytime.

$5 /Monthly

Digital Subscription – Annually

Monthly renewing
You can cancel anytime.

$40 /Annually

Africa’s close development partner, World Bank—on Thursday took a serious initiative to restore its relations with Somalia, after being dull for almost 30 years

According to the statement from World Bank Group, the bank’s Board of Executive Directors moved toward normalizing its relations with the Federal Government of Somalia (FGS).

World Bank anticipates that the restoration will open up opportunities for Somalia to access concessional financing from the World Bank’s International Development Association (IDA) and to work closely with all arms of the World Bank Group to attract investment that will support the country’s stability and development.

The restoration could revitalize Somalia’s economic sphere, as the nation’s real gross domestic product (GDP) growth weakened in 2017 due to the severe drought. Although Somalia averted widespread famine in 2017, the drought led to large-scale food insecurity, affecting more than six million people.

In that context, World Bank Vice President for Africa …