|Approval Date||25 Mar 2019|
|Signature Date||06 May 2019|
|Planned Completion Date||30 Dec 2021|
|Sovereign / Non-Sovereign||Sovereign|
|DAC Sector Code||43010|
Somalia is going through a phase of rebuilding its institutions and economic foundations. As such, both institutional capacity gaps and skills deficits are inherent. As part of the Bank’s support for countries in transition, technical assistance and capacity building are central in the process of state building and peacebuilding. This project, therefore seeks to consolidate the Bank’s support to Somalia, reinforce the successes and progress from past and ongoing projects, while also complementing the interventions from other development partners. Specifically, the Federal Government of Somalia identified institutional and skills gaps, which if covered, would ensure greater impact of Bank interventions. These gaps pertain to the need for (i) Institutional capacity strengthening and building critical skills for the Ministries of Finance and Public Works, Reconstruction and Housing (MoPWR&H); and (ii) Enhancing the quality of data and reporting through the Statistics Directorate in the Ministry of Planning, Investment and Economic Development. It will also improve the coordination role of the Ministry of Finance as the FGS works to deliver on the SMP benchmarks. The project will also support infrastructure rehabilitation by ensuring that all civil works are underpinned by technical feasibility studies and sound analysis.
The overall objective is to enhance institutional capabilities in economic planning to anchor government’s formulation, implementation and coordination of macro-economic and fiscal policies; data quality and reporting; and technical skills development that is critical for the reconstruction and development phases of the Somali economy.
The direct project beneficiaries are the MoF and the MoPIED through capacity enhancement of departments responsible for macroeconomic policy, fiscal framework, statistics and development planning. The project is expected to contribute to the effort of strengthening coordination with MOPIED as well as providing technical support to the National Economic Council under the coordination of the PMO. The project will benefit the government and the people of Somalia through building the weak human and institutional capacity in macroeconomic policy and fiscal planning at federal level. It is expected to sustain the momentum of implementing the SMP leading to the country’s much-desired debt relief under the HIPC program. It is also expected to result in enhanced quality of policy formulation in the country,arising from strengthened collection of economic statistics,coordination of economic policy activities and policy decisions which are made based on facts and data. Qualification for the HIPC initiative is expected to trigger an increase in concessional and private resources to finance development in general and specifically infrastructure investments. In addition, the MoPWR&H will benefit through the on-the-job training for technical staff involved with public works, which will be delivered through technical assistance support.
Fragile States Facility
GOVERNMENT OF SOMALIA MINISTRY OF FINANCE
|Last Update||16 Jan 2020|