Somalia, World Bank reaffirm economic reform partnership

Somalia and the World Bank have reaffirmed their commitment to deepening cooperation on economic reforms, institutional development and regional integration during high-level talks in Mogadishu on July 22, as the country pushes ahead with efforts to accelerate growth and strengthen public institutions.

The discussions, which brought together State Minister for Foreign Affairs and International Cooperation Ali Mohamed Omar, Permanent Secretary Hamza Adan Haadow and World Bank Country Manager Hideki Matsunaga, come at a pivotal moment for Somalia’s economic trajectory. The meeting reflects continued engagement between Mogadishu and international financial institutions as the country seeks to transition from humanitarian dependence towards long-term development, while addressing persistent challenges such as climate vulnerability, unemployment and limited infrastructure.

According to the Ministry of Foreign Affairs, the talks focused on aligning the World Bank’s support with the country’s development priorities, including strengthening government institutions, promoting regional integration and advancing economic diplomacy to attract investment and expand trade opportunities. The ministry thanked the World Bank for its longstanding partnership, highlighting its support for governance reforms, infrastructure development and efforts to improve public services.

World Bank Country Manager Hideki Matsunaga acknowledged Somalia’s progress while underscoring the need for sustained reform. “Somalia has made important progress in strengthening macroeconomic management and institutions under difficult conditions,” Matsunaga said. “However, overlapping shocks are slowing growth and putting pressure on jobs and household livelihoods.”