On May 25, 2017, the Federal Government of Somalia (FGS) and the African Development Bank (AfDB) co-hosted a meeting with donors and friends of Somalia on "Financing the Infrastructure Pillar of Somalia's National Development Plan (NDP) 2017-19" during the African Development Bank's Annual Meetings in Ahmedabad, India.
Representatives from Somalia, Saudi Arabia, Kuwait, the United States of America, Germany, Sweden, Egypt, Italy, the United Kingdom, the Netherlands, the World Bank, and AfDB were in attendance. The well-attended meeting was a timely opportunity for the FGS to further articulate its infrastructure investment priorities and outline the financing options available for delivering these priorities, following the successful launch of a New Partnership Agreement between Somalia and the international community at the London Somalia Conference on May 11, 2017.
The FGS has made the rehabilitation and development of Somalia's infrastructure a top priority through the NDP 2017-19, given its importance in accelerating economic recovery and job creation, developing a competitive and prosperous private sector, and restoring peace and stability.
However, the FGS noted that aid flows to Somalia are currently prioritized towards short-term imperatives, leaving infrastructure and economic growth as the least funded pillars of the NDP priorities. Therefore, it is crucial to identify new sources of funding that align with the country's top priorities. (based on news https://www.afdb.org/en/news-and-events/somalia-donors-commit-to-fill-us-105-million-infrastructure-projects-funding-gap-17084)
Representatives from Somalia, Saudi Arabia, Kuwait, the United States of America, Germany, Sweden, Egypt, Italy, the United Kingdom, the Netherlands, the World Bank, and AfDB were in attendance. The well-attended meeting was a timely opportunity for the FGS to further articulate its infrastructure investment priorities and outline the financing options available for delivering these priorities, following the successful launch of a New Partnership Agreement between Somalia and the international community at the London Somalia Conference on May 11, 2017.
The FGS has made the rehabilitation and development of Somalia's infrastructure a top priority through the NDP 2017-19, given its importance in accelerating economic recovery and job creation, developing a competitive and prosperous private sector, and restoring peace and stability.
However, the FGS noted that aid flows to Somalia are currently prioritized towards short-term imperatives, leaving infrastructure and economic growth as the least funded pillars of the NDP priorities. Therefore, it is crucial to identify new sources of funding that align with the country's top priorities. (based on news https://www.afdb.org/en/news-and-events/somalia-donors-commit-to-fill-us-105-million-infrastructure-projects-funding-gap-17084)
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