NAIROBI, July 31, 2023 Somalia’s efforts toward building strong institutions received a boost with a new $75 million grant, the second in a series of two grants that is helping the country make progress on its path to qualify for full and irrevocable debt relief under the Heavily Indebted Poor Countries (HIPC) Initiative.
In a context of multiple and overlapping shocks related to frequent climatic hazards, as well as widespread fragility, the Somali government is implementing an ambitious reform program to build institutions, attract investments, and achieve inclusive economic growth and job creation, aligned with the ninth National Development Plan which outlines numerous priority areas for moving the country forward, several of which…
Read the full article at: https://www.worldbank.org/en/news/press-release/2023/07/31/somalia-afe-institutions-get-a-boost-to-help-bring-the-country-closer-to-debt-relief