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Somalia, World Bank Ink new Development Deal

Storyline:Business, National News

GOOBJOOG NEWS | MOGADISHU: Somalia and the World Bank have inked a new deal that will enhance collaboration in the effective implementation of development projects in Somalia.

The deal was agreed on during a meeting by Somalia’s Planning, Investment and Economic Development Minister Mohamud Sheikh Farah and World Bank Director in Somalia Christina Svensson in Mogadishu Tuesday.

The minister and the Director also discussed Somalia’s debt relief program, signaling an imminent conclusion that is expected to have a positive economic impact on the country.

The meeting underscored the commitment to enhancing the partnership between the Federal Government of Somalia and the World Bank, with a focus on advancing key development initiatives across the country.

Both sides also explored strategies to streamline cooperation for the successful execution of ongoing and future projects spearheaded by the World Bank.

The projects play a pivotal role in fostering economic growth, infrastructure development, and social progress within Somalia.