Norway has decided to contribute $30 million to the World Bank-administered Somali Multi-Partner Fund (MPF) after Somalia’s finance Minister Elmi Mohamud and Norway’s Minister of International Development held meetings in Mogadishu.
The finance minister of Somalia Elmi Mohamud noted that funds would be used to strengthen financial reform and showed gratitude to the Norway government for being a strong supporter and contributor to this horn of Africa state.
Somalia’s finance minister said the $30 million contribution to the WorldBank Somalia MPF will help his country in many ways.
The MPF has been Somalia’s primary source of World Bank financing since being reintroduced to international financial institutions and Norway is one of nine Western nations providing funding to the MPF, which was established in 2013 as Somalia sought to rebuild its core institutions.
