Somali President Hassan Sheikh Mohamud met a delegation from the World Bank at his office in Villa Somalia on Thursday (January 10th), according to a statement released by his office.

Mohamud said his country is ready to deal directly with the World Bank after 22 years without a functioning government. He told the delegation, led by Country Director for Somalia Bella Bird, that Somali financial institutions would be able to function well with assistance from the World Bank.

"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," Mohamud said.

Mohamud also encouraged foreign governments to invest in Somalia to help its progress in development. "Some countries like Japan have chosen to directly recognise and support the government. We applaud this move and encourage others to follow suit," he said.