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DEVELOPMENT

IMF reaches staff-level deal with Somalia

MOGADISHU — The International Monetary Fund (IMF) said it has reached a staff-level agreement with Somalia on the fifth review under the extended credit facility (ECF) arrangement. The IMF said in a statement released Monday that the agreement will allow the lender to release some funds to Somalia once approved …

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Strengthening Somalia’s institutions to improve service delivery to citizens

WASHINGTON —  The World Bank approved $75 million in financing for the Somalia Enhancing Public Resource Management Project (SERP), which aims to support Somalia as is builds state legitimacy, reduces institutional fragmentation, and strengthens institutions for improved service delivery. The SERP is co-financed by both an International Development Assistance (*IDA) …

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Somalia gets 70 million U.S. dollar World Bank grant to improve services

MOGADISHU — The World Bank said it has approved a 70 million U.S. dollar International Development Association (IDA) grant to develop resilient water, agriculture, and environmental services for rural communities in Somalia’s drylands. The Somalia Water for Rural Resilience Project, known as “Barwaaqo” and builds on the Biyoole project, comes …

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