Sharm el Sheikh (SMN) – The minister of finance Dr Elmi Mohamud Nur is attending a crucial regional summit in Egypt’s resort city of Sharm el Sheikh.
The meeting brings together finance ministers from East Africa and officials representing major banks in the region. It focuses on finding a lasting solution to the financial crisis.
The finance ministers seek support from the African Development Bank to overcome the challenges impeding their countries’ economic growth, according to multiple sources.
The current talks come ahead of the annual conference by the African Development Bank which is expected to kick off in Sharm el Sheikh, Egypt.
As Somalia continues to rebuild economic governance institutions, it faces climate and security obstacles with the government’s plans to finalize the debt relief process this year.
In July 2022, The African Development Fund Bank (AfDB), has approved a $5.4 million grant to support food security programmes in Somalia and help address the impact of the prolonged drought.
