The African Development Bank, based\u00a0in\u00a0Mogadishu, has participated in a signing ceremony that marked\u00a0Italy’s\u00a0contribution of \u20ac1 million to the Somalia Infrastructure Fund (SIF).<\/p>\n
The ceremony was witnessed by Albert Mafusire, the African Development Bank’s Principal Country Economist for\u00a0Somalia, who represented the Bank’s Deputy Director General for\u00a0East Africa\u00a0and Country Manager for\u00a0Somalia, Nnenna Nwabufo.<\/p>\n
Also present were the Italian Ambassador to\u00a0Somalia,\u00a0Carlo Campanile, and the Federal Government of\u00a0Somalia’s\u00a0newly appointed Minister of Public Works, Reconstruction and Housing,\u00a0Abdifatah Mohamed Ibrahim.<\/p>\n
The Somalia Infrastructure Fund (SIF) is a multi-partner fund with the overall goal of supporting\u00a0Somalia\u00a0to rebuild institutions, rehabilitate key infrastructure, and reinforce economic governance.<\/p>\n
The SIF, which is administered by the African Development Bank, aims to contribute to the efforts of\u00a0Somalia\u00a0and its development partners to consolidate peace, establish the basic institutions of a functioning state and to accelerate inclusive and sustainable economic recovery and development.<\/p>\n
As a special fund, the SIF operates within the framework of the bank’s Strategy for Addressing Fragility and Building Resilience in\u00a0Africa: 2014 to 2019.<\/p>\n
Ambassador Campanile acknowledged the bank’s efforts in investing in infrastructure in\u00a0Somalia, noting that the importance of the infrastructure needs assessment studies carried out by the bank in highlighting the needs of\u00a0Somalia\u00a0in key sectors, including transport, energy, and water and sanitation.<\/p>\n
Speaking on behalf of the Federal Government of\u00a0Somalia,\u00a0Abdifatah Mohamed Ibrahim\u00a0pledged continuity of the work started by his predecessor and promised to facilitate all efforts by the bank and its partners in the reconstruction process.<\/p>\n
Speaking on behalf of the bank’s East Africa Regional Development and Business Delivery Office, Albert Mafusire expressed gratitude to\u00a0Italy\u00a0for its support and partnership in rebuilding the country’s infrastructure, emphasising the importance of infrastructure as an enabler of economic transformation.<\/p>\n
Italy’s\u00a0current intervention raises its total contribution to the SIF at about US$ 3.2 million\u00a0and becomes the second-largest contributor to the fund after the African Development Bank. It also takes the total paid in contributions to US$ 29.7 million, representing about 44% of total pledged contributions.<\/p>\n
<\/p>\n","protected":false},"excerpt":{"rendered":"
The African Development Bank, based\u00a0in\u00a0Mogadishu, has participated in a signing ceremony that marked\u00a0Italy’s\u00a0contribution of \u20ac1 million to the Somalia Infrastructure Fund (SIF). The ceremony was witnessed by Albert Mafusire, the African Development Bank’s Principal Country Economist for\u00a0Somalia, who represented the Bank’s Deputy Director General for\u00a0East Africa\u00a0and Country Manager for\u00a0Somalia, Nnenna Nwabufo. Also present were the […]<\/p>\n","protected":false},"author":18,"featured_media":19764,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[565,399,19,260,262],"tags":[2301,5724,683,48,5720,5721,5723,1815,5722],"class_list":["post-19763","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-banking-finance","category-more-news","category-regional-news","category-regional-news-newsletter","category-used","tag-african-development-bank","tag-albert-mafusire","tag-east-africa","tag-infrastructure","tag-italy","tag-mogadishu","tag-sif","tag-somalia","tag-somalia-infrastructure-fund"],"acf":[],"publishpress_future_workflow_manual_trigger":{"enabledWorkflows":[]},"_links":{"self":[{"href":"https:\/\/www.intelligentcio.com\/africa\/wp-json\/wp\/v2\/posts\/19763","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.intelligentcio.com\/africa\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.intelligentcio.com\/africa\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.intelligentcio.com\/africa\/wp-json\/wp\/v2\/users\/18"}],"replies":[{"embeddable":true,"href":"https:\/\/www.intelligentcio.com\/africa\/wp-json\/wp\/v2\/comments?post=19763"}],"version-history":[{"count":3,"href":"https:\/\/www.intelligentcio.com\/africa\/wp-json\/wp\/v2\/posts\/19763\/revisions"}],"predecessor-version":[{"id":19796,"href":"https:\/\/www.intelligentcio.com\/africa\/wp-json\/wp\/v2\/posts\/19763\/revisions\/19796"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.intelligentcio.com\/africa\/wp-json\/wp\/v2\/media\/19764"}],"wp:attachment":[{"href":"https:\/\/www.intelligentcio.com\/africa\/wp-json\/wp\/v2\/media?parent=19763"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.intelligentcio.com\/africa\/wp-json\/wp\/v2\/categories?post=19763"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.intelligentcio.com\/africa\/wp-json\/wp\/v2\/tags?post=19763"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}