September 02
Africa: World Bank Appoints New Country Director for Kenya, Rwanda, Somalia, and Uganda
The World Bank has appointed Mr. Qimiao Fan as the new Country Director for Kenya, Rwanda, Somalia, and Uganda, effective September 1, 2024. Mr. Fan, who has over 35 years of… Read more »
July 30
Africa: Somalia Taps World Bank Support to Promote Economic Resilience Through More Sustainable Public Finances and Private Sector Development
The World Bank's Board of Executive Directors has approved Development Policy Financing (DPF) that introduces for the first-time drought index insurance to 180,000 of Somalia's… Read more »
June 20
Somalia: Somalia Expects 3.1 Percent GDP Growth, Rebounding From Drought and Commodity Price Shocks
Somalia's economy is expected to grow at 3.1 percent in 2023 up from 2.4 percent in 2022. This rebound in growth was driven by improved weather conditions and policy reforms… Read more »
January 30
Africa: Somalia's Quest for Progress Unveiled Through Data
STORY HIGHLIGHTS Read more »
December 13, 2023
Africa: IMF and World Bank Announce $4.5 Billion in Debt Relief for Somalia
The Executive Boards of the International Monetary Fund (IMF) and the World Bank's International Development Association (IDA) have approved the Heavily Indebted Poor Countries… Read more »
December 15, 2022
Africa: World Bank Grants $70 Million for Delivery of Water, Agriculture, Livestock, and Environmental Services in Somalia
The World Bank approved a $70 million International Development Association (IDA*) grant to develop resilient water, agriculture, and environmental services for rural communities… Read more »
November 29, 2022
Somalia: Somalia's Economy Expected to Grow Despite Significant Shocks
omalia's economy rebounded with GDP growth of 2.9 percent in 2021, up from a contraction of 0.3 percent in 2020 and 0.5 percent higher than last year's forecast of 2.4 percent.… Read more »
September 29, 2022
Somalia: Somalia Receives U.S.$58 million in World Bank Financing to Develop Regional Transport Infrastructure, a First in Decades
The World Bank approved a $58 million International Development Assistance (*IDA) grant to help lay the foundation for the future development of Somalia's transport infrastructure.… Read more »