MOGADISHU — Somalia’s Ministry of Finance has announced the signing of a cooperation framework with the Islamic Development Bank (IsDB) covering the period 2026–2028, including a $45 million financing package aimed at supporting national development priorities.
The agreement focuses on key sectors including infrastructure development, human capital investment, and broader economic transformation efforts designed to strengthen Somalia’s long-term growth.
According to the ministry, the funding will be directed toward improving public services, expanding development projects, and supporting programs intended to enhance skills and productivity within the economy.
Officials said the partnership reflects ongoing cooperation between Somalia and international financial institutions as the country continues efforts to rebuild its economy and strengthen state institutions after decades of conflict and instability.
The Islamic Development Bank has been a long-term development partner for Somalia, supporting projects in education, health, transport, and governance reform.
The new financing package is expected to complement existing national development strategies and contribute to efforts aimed at boosting economic resilience and improving living conditions across the country.
