Upcoming Development Projects

Shame on the somaliland gov. we shouldn't allow ethopia to open banks in SL as the Ethiopian gov doesn't treat Somaliland with enough respect despite all the money we give to their businesses and support we give Ethiopian gov.

DRACO said:

Shame on the somaliland gov. we shouldn't allow ethopia to open banks in SL as the Ethiopian gov doesn't treat with Somaliland with enough respect despite all the money we give to their businesses and support we give Ethiopian gov.

Click to expand...

even if they did treat you with respect why would you want there banks holding your money lol, many possible negatives could come out of that

Does Somaliland have a state commercial bank? ( and I don't mean Dahabshill, because its not a state run/operated business. its a private entity, that latched on to the Somaliland project. for exposure and wealth.)

Somaliland has a currency, but do they have a state commercial bank with branches located throughout the horn of Africa.

Do they provide student loans, business loans, house loans/mortgages, and other services a bank offers, without requirements of being from a certain tribe?

I'm just curious because I just haven't received a clear answer. It seems like everything built in Somali land was built by foreign aid and donations.

IftiinOfLife said:

Does Somaliland have a state commercial bank? ( and I don't mean Dahabshill, because its not a state run/operated business. its a private entity, that latched on to the Somaliland project. for exposure and wealth.)

Somaliland has a currency, but do they have a state commercial bank with branches located throughout the horn of Africa.

Do they provide student loans, business loans, house loans/mortgages, and other services a bank offers, without requirements of being from a certain tribe?

I'm just curious because I just haven't received a clear answer. It seems like everything built in Somali land was built by foreign aid and donations.

Click to expand...

they don't need one, dhabshiil is one and its good enough if they need more add to the local private ones for competition no reason for there to be a state commercial bank

Tukraq said:

they don't need one, dhabshiil is one and its good enough if they need more add to the local private ones for competition no reason for there to be a state commercial bank

Click to expand...

Dahabshil is a private entity and not owned by the state, I never heard of a nation not "needing a commercial state run bank"

Just a shower thought I had.

IftiinOfLife said:

Dahabshil is a private entity and not owned by the state, I never heard of a nation not "needing a commercial state run bank"

Just a shower thought I had.

Click to expand...

wheres the US commercial state run banks? there all private institutions

Tukraq said:

wheres the US commercial state run banks? there all private institutions

Click to expand...

Look at all the problems the US has with private banking entities, I think the Communists had the right idea with banking, thats just my thought. I should have worded my initial question better.

IftiinOfLife said:

Look at all the problems the US has with private banking entities, I think the Communists had the right idea with banking, thats just my thought. I should have worded my initial question better.

Click to expand...

I don't think so, where are the communists right now? seems like they failed and the US prevailed so they had the right idea, banks are more efficiently ran privately, government should be doing what the private sector can't and banks isn't one of them, unless you mean central bank?(although even the US federal reserve is private and works extremely well), there no reason a commercial bank should be state run

Tukraq said:

I don't think so, where are the communists right now? seems like they failed and the US prevailed so they had the right idea, banks are more efficiently ran privately, government should be doing what the private sector can't and banks isn't one of them, unless you mean central bank?(although even the US federal reserve is private and works extremely well), there no reason a commercial bank should be state run

Click to expand...

I think the ethiopian state runs the commercial bank of Ethiopia though.

IftiinOfLife said:

I think the ethiopian state runs the commercial bank of Ethiopia though.

Click to expand...

yeah I don't think Ethiopia is run efficiently in that regard, too much state control, also that would make this even worse for somaliland tbh I would be cautious what if the relationship between Abiy and farmajoo continues to strengthen and they start freezing accounts?

IftiinOfLife said:

Does Somaliland have a state commercial bank? ( and I don't mean Dahabshill, because its not a state run/operated business. its a private entity, that latched on to the Somaliland project. for exposure and wealth.)

Somaliland has a currency, but do they have a state commercial bank with branches located throughout the horn of Africa.

Do they provide student loans, business loans, house loans/mortgages, and other services a bank offers, without requirements of being from a certain tribe?

I'm just curious because I just haven't received a clear answer. It seems like everything built in Somali land was built by foreign aid and donations.

Click to expand...

dudkisa oo disstay and never for get that …..

DRACO said:

Shame on the somaliland gov. we shouldn't allow ethopia to open banks in SL as the Ethiopian gov doesn't treat Somaliland with enough respect despite all the money we give to their businesses and support we give Ethiopian gov.

Click to expand...

Ain't nobody gonna treat an aqoonsi with respect

why is everyone on this thread are hating on Ethopia like its 1977...……...

Dhaabsheel will be angry lool.

Somaliland shouldn't allow other nations public banks to open branches in somaliland

Cliff Notes:

Finance
- Economy of Somaliland rose 4.5% in 2019(1.9% higher than the African average for the year)

- Value of Somaliland Shilling was raised by almost a quarter at 21% in 2019

- Implementation of a Public Finance Management System [PFM] to help improve the country’s financial system, tax collection, revenue growth, spending power, implementation of development projects,

- Almost 260m USD was spent in 2019 on government projects mostly infrastructure

- Plans to increase production and manufacturing for 2020 in order to try and create a surplus in exports vs imports, currently exporting 211m worth of goods vs 560m spent on imports.

Agriculture

- The government utilized 42,000 hours in tilling support to farmlands while free seeds were delivered to 14,000 households nationwide and donated 7 tractors to Agricultural Cooperatives in Berato and Beer in Daadmadheed and Togdheer Regions.

- 750 meters of water and 85 Water pumps were availed and distributed equitably to 170 families in all regions of Somaliland while 38 veterinary teams from the government vaccinated 3 3 million livestock against various diseases nationwide while 1,500,000 ailing livestock including sheep, camels, cattle and horses were treated without charge.

Infrastructure

- focus on expansion and modernization of the Berbera Port are underway with 43% which is 400 meters long of the first phase of Port Expansion complete.

-The governments of Somaliland and the United Arab Emirates have agreed to elevate Berbera Airport to international standards for purpose of supporting cross-border regional, regional and international trade,” he said.

- 7% of the Berbera Corridor which connects Somaliland and Ethiopia is complete and in use while construction of 22.5 kilometres of the track as part of the Berbera Economic Corridor geared towards diverting heavily laden trucks from the capital Hargeisa will start soon.

Healthcare
- the government is focusing on the public’s access to economically affordable quality health services by providing health services in vulnerable communities, such as maternal and child health clinics, improving health services at all levels where 512 public health professionals have been recruited and seconded to all regions and providing further training to 3,100 Health Professionals, to improve the quality of health services available to the Somaliland community.

Xiis xarrago

Detailed explanation of the upcoming projects

Under Phase II of the Somaliland Development Fund (SDF2) programme, the UK, Denmark and the Netherlands have approved four agreements with the Somaliland Government to improve critical infrastructure to support economic growth. These projects were prioritised by Phase II of the Government of Somaliland’s National Development Plan, and will improve the lives of hundreds of thousands of people across Somaliland. The new agreements, supporting projects on roads, agricultural facilities, water systems and fisheries will spur economic growth benefitting the region and helping contribute towards a stable, peaceful and resilient Somaliland while improving its resilience to future pandemics through enhanced water, sanitation and hygiene (WASH) infrastructure.

These projects include:

Project 1:Rebuilding of Burao–Sheikh-Berbera road in Togdheer and Sahil regions
The rebuilding of the Burao to Berbera road will include 82km of full asphalt concrete overlay, the resurfacing of bridges and renewal of drainage systems. Improving connectivity between Somaliland’s port and its second largest city will reduce travel time and costs benefiting the 50,000 members of the public who use this road regularly and contributing to economic development by enhancing service delivery and boosting trade, particularly in the livestock, agriculture, and fishery sectors.

Project 2:Sustainable land management in Awdal and Maroodijeh regions:
The project will improve the agricultural production of small farmers through soil and water conservation, research, extension and farmer training. This project will target the agricultural areas of Durdur Ad Upper Catchment in Awdal and Maroodijeh Upper Catchment in Maroodijeh.

Project 3: Support to the Hargeisa Water Agency, supplying water to the people of Hargeisa.
The SDF2 will continue its support to the Hargeisa Water Agency (HWA), which supplies clean water to the people of Hargeisa. This project will allow HWA to extract an additional 4,000 m3 of water each day from Laasdhure aquifer. This project will increase the water available in Hargeisa by more than 20%, to 23,000m3 per day - enough to meet the needs of an additional 200,000 people.

Project 4: Construction of Maydh fishing jetty in the Sanaag region:
The Maydh Jetty will improve interconnectivity by sea between Berbera and the 750,000 people living in the hinterland of Sanaag and parts of Togdheer, spurring regional economic growth as well as facilitating the transport of fish to markets. This support will boost food security, employment and incomes.

Click to expand...

Statements from the Ambassadors

The British Ambassador to Somalia, Ben Fender, said:

The UK is committed to supporting Somaliland lay the foundations for sustainable economic growth. We are announcing today a set of major infrastructure investments in four sectors across Somaliland. We will be upgrading the road from Burco to Berbera, supporting agricultural production in Awdal and Moroodijeh, increasing by 20% the water in Hargeisa, and building a jetty in Maydh to enable exports from Sanaag and Togdheer. These projects will improve the lives of hundreds of thousands of people by creating jobs and unlocking the region’s economic potential. At a time of huge challenges for Somaliland, including tackling COVID-19, this demonstrates the UK’s commitment to the people of Somaliland.

Click to expand...

The Danish Ambassador to Somalia, Mette Knudsen, said:

Denmark warmly welcomes the approval of these four important SDF projects and the solidarity shown by the Government of Somaliland and SDF donors to identify priority needs, ensure regional and sectoral balance, and align SDF investments with the priorities of Somaliland’s NDPII. The investments are particularly timely in the face of the Covid-19 pandemic and its economic effects that are only just beginning to emerge. We are confident that these investments will have catalytic effects to spur Somaliland’s economic development and to help support and sustain Somaliland’s economic recovery from this terrible pandemic.

Click to expand...

The Netherlands Ambassador to Somalia, Frans Makken, said:

The Kingdom of Netherlands has enjoyed cordial and collaborative relations with the Somaliland Government over many years; and through the projects in the SDF2, the Netherlands is happy to be part of the contribution to strengthening the social contract between the government and its people. These projects will strengthen the positive social and economic growth trajectory of Somaliland.

Click to expand...

Click to expand...

great news for Somaliland Republic of Somalia