11 January 2013

Somalia: President Meets With World Bank Delegation

The President of the Federal Republic of Somalia, Hassan Sheikh Mohamud met and held discussions with high ranking World Bank officials at Villa Somalia, on Thursday January 10th, regarding Somalia's engagement with the World Bank.

The World Bank delegation, led by Country Director, Ms. Bella Bird, met the President and the Minister of Finance, Mohamud Suleyman, and other senior government officials. President Mohamud explained that after 22 years of absence caused by conflict, the government of Somalia was now ready to engage with the World Bank and other International financial institutions.

"Somalia needs to reinstate operations with the World Bank Family; we believe the World Bank can play an important role in the reconstruction of Somalia, as well as the rebuilding of our public financial institutions," said the President. He briefed the delegation about Somalia's 12 years of transition which he described as a long time for a transitional process.

"We are committed to bring forward the best people we have to work with you," he said, "so our financial institutions can begin to function well, but we need your support". The President, who underlined his optimism about future engagements with the international community, briefed the World Bank team about the various recent changes in the country.

He noted that many countries had now signed bilateral agreements with Somalia, and more were I the pipeline. Some countries, like Japan, he said, had chosen to directly recognize and support the government. "We applaud this move and would encourage others to follow suit," he said. The President added that he was certain that "other institutions like the World Bank would be pleased to be our partners."

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