Somalia: World Bank Opens a New Office

The World Bank has opened a new office in Somalia on Sunday.

The ceremony was led by visiting World Bank Vice President Hafez Ghanem and Somali Finance Minister, Dr. Abdulrahman Beyle Duale.

Hafez Ghanem said the World Bank is proud to walk alongside Somalia on its economic reform agenda.

"I visited Somalia for the first time, and saw the efforts that the government and the people are making to bring peace and security back to their country."

The World Bank delegation later met President, Mohamed Abdullahi Farmjo and Prime Minister, Hassan Ali Kheyre.

The two sides discussed ongoing efforts on Somalia's debt relief process.

According to the Somali Prime Minister's press office, the round table talks emphasized the need to expedite the attainment of remaining milestones towards Decision Point for Arrears Clearance & Debt Relief.

The new office is expected to boost the horn of the African nation's bid on debt cancellation of over USD 5 billion which is scheduled to conclude by February next year.

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