Tuesday April 5, 2022
Mogadishu (HOL) - Today the Ministry of Finance of Somalia approved the transfer of a payment of $11.7 million to Somaliland after the Somali Prime Minister ordered the release of the funds to Somaliland following the disastrous Hargeisa market Fire last week. The budget support was allocated to Somaliland as part of the World Bank's assistance to the Somali government during the COVID-19 pandemic. The amounts were determined based on the reported fiscal gaps by all the Federal member states of Somalia and then distributed accordingly by the Ministry of Finance through Somalia's Central Bank.