Somalia, World Bank Deepen Partnership on Reforms and Economic Growth

GOOBJOOG NEWS | MOGADISHU: Somalia and the World Bank have reaffirmed their commitment to deepening cooperation on economic reforms, institutional development and regional integration, as the country pushes ahead with efforts to accelerate growth and strengthen public institutions.

The discussions took place during a meeting between the State Minister for Foreign Affairs and International Cooperation, Ali Mohamed Omar, Permanent Secretary Hamza Adan Haadow and the World Bank’s Country Manager for Somalia, Hideki Matsunaga, alongside senior officials from the bank.

According to the Ministry of Foreign Affairs, the talks focused on aligning the World Bank’s support with the country’s development priorities, including strengthening government institutions, promoting regional integration and advancing economic diplomacy to attract investment and expand trade opportunities.

The ministry thanked the World Bank for its longstanding partnership, highlighting its support for governance reforms, infrastructure development and efforts to improve public services.

Both sides said they remained committed to working together to support Somalia’s long-term development, economic resilience and sustainable growth.

The meeting comes as Somalia seeks to consolidate gains made since reaching the completion point of the Heavily Indebted Poor Countries (HIPC) Initiative in December 2023, which resulted in the cancellation of more than $4.5 billion in external debt. Since then, the government has focused on maintaining economic reforms, strengthening domestic revenue collection and creating conditions to attract greater foreign investment.

The World Bank has played a central role in supporting Somalia’s recovery through investments in transport, education, health, social protection, urban development and digital transformation. Earlier this year, the bank reiterated its support for the implementation of Somalia’s National Transformation Plan (2025–2029), which aims to drive inclusive economic growth, improve governance and reduce poverty.

The latest meeting reflects continued engagement between Mogadishu and international financial institutions as Somalia seeks to transition from humanitarian dependence towards long-term development, while addressing persistent challenges such as climate vulnerability, unemployment and limited infrastructure.

Sustained cooperation with development partners is seen as key to preserving reform momentum and unlocking investment needed to support Somalia’s economic recovery and state-building efforts.