NAIROBI, Kenya – In another important step towards Somalia’s economic recovery, the Somali Finance Minister, Bihi Egeh, met with senior officials and ministers from the United Kingdom, Norway, and the Netherlands during the African Development Bank (AfDB) Annual Meetings in Nairobi.
The discussions focused on Somalia’s post-debt economic priorities, highlighting the international community’s commitment to supporting the country’s financial reforms and development projects.
The meeting, which took place on May 28, 2024, was attended by high-ranking representatives from the three countries, demonstrating their interest in Somalia’s economic growth and stability.
Minister Egeh expressed his gratitude to the international partners for their assistance, emphasizing the importance of their support in achieving the country’s financial objectives.
Somalia’s recent debt relief, which saw the cancellation of 99% of its $2 billion debt, has opened up new opportunities for the country to access external financing and accelerate economic growth.
This landmark achievement, announced by the Paris Club in March 2024, has been a crucial step in the country’s journey to financial recovery after decades of conflict and economic instability.
The AfDB Annual Meetings provided a platform for the Somali Finance Minister to engage with key international partners and discuss the country’s post-debt economic priorities. The discussions likely covered a range of topics, including investment opportunities, infrastructure development, and the implementation of financial reforms to ensure the sustainable growth of the Somali economy.
The participation of the UK, Norway, and the Netherlands in these discussions underscores their commitment to supporting Somalia’s economic recovery and development. Their involvement in the AfDB Annual Meetings reflects the broader international community’s recognition of the importance of Somalia’s financial stability and the potential for growth in the region.
As Somalia continues to navigate its post-debt economic landscape, the support of international partners will be crucial in achieving the country’s financial objectives and ensuring the well-being of its citizens.
The discussions held during the AfDB Annual Meetings in Nairobi are a testament to the ongoing collaboration between Somalia and its international partners, and the commitment to building a stronger, more prosperous future for the country.
