WASHINGTON — Bihi Iman Egeh, Finance Minister of Somalia, delivered a wide-ranging address during a plenary session chaired by Ajay Banga, as part of meetings linked to the World Bank and the International Monetary Fund.
The session, known as the World Bank Africa Group 1 Constituency, is among the two most significant gatherings held alongside the annual meetings of the World Bank and IMF.
Somalia is a key member of the constituency, where policymakers review development financing strategies and economic priorities for African countries.
In his remarks, Egeh emphasized the importance of boosting domestic revenue, strengthening public financial management systems and improving the country’s investment climate.
He also highlighted global economic pressures and domestic fiscal challenges affecting Somalia’s revenue sources.
Participants discussed the World Bank’s financing approaches for African nations, with Somalia identified among countries actively benefiting from grants and development projects supported by the bank.
Several of these initiatives are progressing inside the country, according to officials.
