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100 million dollars loan support from the World Bank to Somalia

100 million dollars loan support from the World Bank to Somalia

It has been reported that the World Bank will provide 100 million dollars of credit support to Somalia, which is struggling with drought and economic problems.

Publish Date: 17/06/22 12:58
Update Date: 17/06/22 14:16
reading time: 1 min.
100 million dollars loan support from the World Bank to Somalia
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World Bank Somalia Director Kristina Svensson gave information about the loan support in her statement after meeting with Somali President Hasan Seyh Mahmud.

Svensson stated that the World Bank has decided to provide 100 million dollars of loan support to Somalia and that the loan support planned to be given within the next year will be used for the priorities of the government.

The World Bank provided $55 million in support to Somalia in 2020.

Since 1990, Somalia has experienced more than 30 natural disasters such as floods and droughts due to climate change.

The Somali government declared a "state of emergency" across the country on November 23, 2021, due to the increasing drought.

The World Health Organization (WHO) had called for urgent assistance to the international community for the humanitarian crisis in Somalia.

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