Thursday April 18, 2024
Mogadishu (HOL) — The African Development Bank's three-day mission to Mogadishu concluded on Wednesday with discussions focused on assessing and advancing Somalia's development objectives. The delegation, led by Bubacarr Sankareh and Edward Sennoga, wrapped up the Interim Country Strategy Paper (I-CSP) for 2022-2024 and initiated planning for the 2025-2029 strategy. During their visit from March 26 to 28, 2024, the team met with various government officials, including Finance Minister Bihi Egeh, to review progress and outline future priorities.
The discussions highlighted Somalia's main challenges, such as conflict, governance issues, infrastructural deficits, and environmental impacts. The bank aims to assist the Somali government in addressing these issues to foster inclusive growth and economic resilience. Egeh emphasized the need to create a conducive investment environment, enhance food security, and leverage Somalia's strategic location.
The bank's ongoing support aligns with Somalia's National Transformation Plan, which seeks to promote socio-economic growth, enhance peace and security, and advance governance reforms. The bank currently manages 17 projects in Somalia, totalling approximately $221.61 million, with the transport sector receiving the largest share of funding.
During the visit, the delegation outlined six priority reform areas for the government's attention: economic stabilization, climate risk mitigation, private sector growth, infrastructure improvements, agriculture modernization, and economic diversification through the blue economy. These areas are crucial for Somalia's strategic development and will be incorporated into the upcoming Country Strategy Paper.
The mission is part of the bank's broader effort to support Somalia in overcoming its developmental challenges and achieving sustainable growth. The outcomes of these discussions will also be reflected in the 2024 Country Portfolio Improvement Plan, ensuring continued support and adaptation to Somalia's evolving needs.