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The World Bank has approved $80 million in loans to Somalia to fund public finance reforms, marking the first disbursement to the Government of the conflict-ridden country in 30 years.
The bank that suspended ties with the country when war broke out in 1991, resumed support for Somalia in 2003, at the time saying it would focus on HIV/AIDS and livestock programs with other organizations, but it has not approved any direct lending to the government to date. It reopened direct ties with Somalia's federal government in early 2013.
The bank said it would also work with the government in Mogadishu to improve services like education and healthcare, access to clean water, energy and finance for its citizens.
Source (Al-Hayat newspaper, Edited)