Norway to provide bridging loan to Somalia

[embarassing]

The Government has proposed that Norway should provide a short-term bridging loan of NOK 3.135 billion to Somalia in 2020 to clear Somalia’s debt arrears to the World Bank’s International Development Association. Technically, this is a loan to Somalia, but the funds will be transferred to a World Bank account. The World Bank will then grant Somalia a new loan, which will be used immediately to repay the bridging loan from Norway.

Somalia and Prime Minister Hassan Ali Khaire get help to clear the country's debt. Here with Minister of Foreign Affairs Ine Eriksen Søreide. Credit: Svein Michelsen, MFA

‘Following several decades of civil war, the situation in Somalia has stabilised in the last few years. The authorities have implemented a number of important political and economic reforms, but the country is still in a vulnerable situation. This loan from Norway will be an important contribution to the work to promote reform and stabilisation in Somalia,’ said Minister of Foreign Affairs Ine Eriksen Søreide.

Somalia’s external debt amounts to approximately USD 4.7 billion, and debt cancellation is a key priority for the Somali Government. A third of the debt is owed to the multilateral development banks, the World Bank and the African Development Bank, and the International Monetary Fund (IMF). These debt arrears need to be cleared before Somalia can receive new loans and debt relief. In addition to the bridging loan from Norway, the UK will provide a bridging loan to cover Somalia’s debt to the African Development Bank. This means that Somalia just needs one more donor country to cover its debt to the IMF. When these three loans are in place, Somalia will qualify for debt relief under the Heavily Indebted Poor Countries (HIPC) Initiative, provided that it implements the ongoing programme of economic reforms agreed with the IMF.

‘Somalia’s debt arrears to Norway amount to NOK 16 million. If Somalia receives debt treatment in the Paris Club under the HIPC initiative, this debt will be cancelled,’ said Minister of International Development Dag-Inge Ulstein.

Mr Ulstein will participate in a roundtable meeting on Somalia during the World Bank’s Annual Meetings in Washington next week.

‘Debt relief is essential if Somalia is to continue its stabilisation and reform efforts. This bridging loan operation shows what we can achieve when donors and multilateral financial institutions work together. This will be a topic of discussion at a number of the meetings I’ll be having during the World Bank’s Annual Meetings next week. The aim is to carry out this bridging loan operation during the first quarter of 2020,’ Mr Ulstein said.

Somalia is an important partner country for Norway, and it received NOK 543 million in bilateral aid from Norway last year. Together with the EU, the UK and Germany, Norway has invested substantial resources in promoting institution-building, good governance and stabilisation in the country. Norway has contributed to efforts to promote peace and stabilisation in Somalia since the early 2000s.

https://www.regjeringen.no/en/aktuelt/somalia_loan/id2673476/

 

[embarassing]

 

[Tukraq]

This is a negative, grants we can accept, loans are a big no no

 

[embarassing]

This is a negative, grants we can accept, loans are a big no no

try reading the whole thing

 

[DR OSMAN]

This is a negative, grants we can accept, loans are a big no no

Then u simply remain in poverty or charity. Grants is DONATIONS and Sadaqo. Scholarships are Grants to student who can't afford tuition. Where-as Loans are students who go to the bank and pay for they're own studies in America.

Why u prefer donations and charity always? you cant build a country begging waryaa. Plus the govt doesn't have billions just sitting around somewhere. We need the BANK loan. Don't teach the people to live on hand outs and sadaqo. I told you no bank no SOMALIA. The govt has to get a loan, imagine your civilians who dont have access to banks inside Somalia. U need banks operating inside the nation at all times to feed your people loans to get started in the world.

 

[AarLibaax]

Brilliant news.

2020 debt relief is nearly there.
My broke ass country is on its way to normalcy.

Viva Reer Ragnar Lothbrok.

 

[DR OSMAN]

This is a negative, grants we can accept, loans are a big no no

You have two choices. Dhimo or Bank Loan. You see how silly your thoughts are you could kill the Somali people sxb with your anti loan anti bank attitude. The only thing keeping us afloat is DONATIONS right now from Diaspora and NGO and Countries budget support. It's all CHARITY waryaa because u refuse to be a man and take a loan and pay it back.

But noone giving a loan to corrupt govt as you will pocket it and not pay it back, u need to prove where it's going and what asset and what the return on investment is and how u pay the loan back and period of time it will be serviced completely the loan. Just inject your capital in high return investments so you pay the loan back quicker, you can't build an economy with QAWIIL KKKKKK, it's money and money requires you prove it GROWS.

Take any QAWIIL OUT of economic discussion. My qawiil talk is only about RECONCILIATION waryaa which requires hard hitting qawiil talk but not in economic discussion whatsoever, u guys always confuse me.

U cant have an economy without a reconciled ppl like h2tu and tutsi are today. thats why theyre economy growing. Reconciliation is paramount and the only way to tell a society is reconciled is you guys stop tribal competion and become like h2tu and tutsi are and if you haven't we know you are not reconciled and the world STEPS away and 'says fix your house' as @PuntiteQueen would say to anyone also

 

[Tukraq]

Then u simply remain in poverty or charity. Grants is DONATIONS and Sadaqo. Scholarships are Grants to student who can't afford tuition. Where-as Loans are students who go to the bank and pay for they're own studies in America.

Why u prefer donations and charity always? you cant build a country begging waryaa. Plus the govt doesn't have billions just sitting around somewhere. We need the BANK loan. Don't teach the people to live on hand outs and sadaqo. I told you no bank no SOMALIA. The govt has to get a loan, imagine your civilians who dont have access to banks inside Somalia. U need banks operating inside the nation at all times to feed your people loans to get started in the world.

Either grants or you get it on your own no need for loans there a negative not a positive

 

[Tukraq]

You have two choices. Dhimo or Bank Loan. You see how silly your thoughts are you could kill the Somali people sxb with your anti loan anti bank attitude. The only thing keeping us afloat is DONATIONS right now from Diaspora and NGO and Countries budget support. It's all CHARITY waryaa because u refuse to be a man and take a loan and pay it back.

But noone giving a loan to corrupt govt as you will pocket it and not pay it back, u need to prove where it's going and what asset and what the return on investment is and how u pay the loan back and period of time it will be serviced completely the loan. Just inject your capital in high return investments so you pay the loan back quicker, you can't build an economy with QAWIIL KKKKKK, it's money and money requires you prove it GROWS. Take any QAWIIL OUT of economic discussion. My qawiil talk is only about RECONCILIATION waryaa which requires hard hitting qawiil talk not in economic discussion whatsoever, u guys always confuse me. U cant have an economy without a reconciled ppl like h2tu and tutsi are today. thats why theyre economy growing

Loans are why African nations fail economically don’t let the imf and world bank fool you, plus there trying to eliminate global poverty anyways(by 2030) play hardball and get the grants don’t settle for debt traps

 

[DR OSMAN]

Loans are why African nations fail economically don’t let the imf and world bank fool you, plus there trying to eliminate global poverty anyways(by 2030) play hardball and get the grants don’t settle for debt traps

Nonsense the IMF and World Bank is trying it's hardest to inject capital into your countries so you can begin an economy, but african leaders mismanage it and pocket it and build houses in europe. Don't blame white people for everything when you see the mismanagement of funds by african leaders constantly. Why? they are not RECONCILED themselves and tribally competing with each other. You can't build a country thru a disunited people. Hotu and Tutsi are the example of reconciled people, it's the bench mark for all africans to meet that GOLD STANDARD OF RECONCILIATION or enjoy being a BASKET CASE.

Besides the liklihood you get a loan as an African nation is UNLIKELY as they are not stupid to give you one so you can loot it and build a property in europe and never pay back the LOAN. Your credit risk, Africa is probably CREDIT RISK RED FLAG. Waxad uu fekertan sida B22NTA dee, you ain't gonna out-smart white people sxb you just need to be honest and up front in life about your intentions.

 

[Tukraq]

Nonsense the IMF and World Bank is trying it's hardest to inject capital into your countries so you can begin an economy, but african leaders mismanage it and pocket it and build houses in europe. Don't blame white people for everything when you see the mismanagement of funds by african leaders constantly. Why? they are not RECONCILED themselves and tribally competing with each other. You can't build a country thru a disunited people. Hotu and Tutsi are the example of reconciled people, it's the bench mark for all africans to meet that GOLD STANDARD OF RECONCILIATION or enjoy being a BASKET CASE.

Besides the liklihood you get a loan as an African nation is UNLIKELY as they are not stupid to give you one so you can loot it and build a property in europe and never pay back the LOAN. Your credit risk, Africa is probably CREDIT RISK RED FLAG.

Imf and world bank economist will tell you themselves there policies caused the African stagnation in the last 25 years, there the ones that were in these African countries ears, were supposed to disregard them like the Asian tigers did, loans are a negative

 

[DR OSMAN]

Imf and world bank economist will tell you themselves there policies caused the African stagnation in the last 25 years, there the ones that were in these African countries ears, were supposed to disregard them like the Asian tigers did, loans are a negative

How you gonna source your money then? tell me your brilliant plan, Einstein? U can't get it anyway but a loan or charity. You just using words like grants and ngo recipients, welfare, are just words for the same thing. Your asking someone to DONATE to you. So how are we gonna to rely on donations since most countries are only put a aside a small percentage for donations? they don't dedicate much sxb to foreign aid each country is maybe 2% of theyre GDP. The money u get in donation is from the bank itself so its stupid you say not taking a loan, do u see u stupidity at all.

 

[Tukraq]

How you gonna source your money then? tell me your brilliant plan, Einstein? U can't get it anyway but a loan or charity. You just using words like grants and ngo recipients, welfare, are just words for the same thing. Your asking someone to DONATE to you. So how are we gonna to rely on donations since most countries are only put a aside a small percentage for donations? they don't dedicate much sxb to foreign aid each country is maybe 2% of theyre GDP. The money u get in donation is from the bank itself so its stupid you say not taking a loan, do u see u stupidity at all.

These groups have a goal to eliminate world poverty by 2030, if you refuse there loans there only option is to give you grants or charity as you called it By playing hardball

 

[Diaspora ambassador]

Did ya'll know that if we united we didn't need the loans. We would have payed off the debt on our own. And made billions more. But no we continue to fight each other over tuulos

 

[Tukraq]

Did ya'll know that if we united we didn't need the loans. We would have payed off the debt on our own. And made billions more. But no we continue to fight each other over tuulos

Tuulos are important, these are our future major cities

 

[DR OSMAN]

These groups have a goal to eliminate world poverty by 2030, if you refuse there loans there only option is to give you grants or charity as you called it By playing hardball

The funny thing is those grants/charity are all from the same bank which is all growing in interests, so your eating the ribah thru charity/grants.

White people are like this with u

Tell us when your ready to join the world order with a TRUMP SMIRK

White people don't mess about SXB, way 'af gaban' yihin. Dont take kindness for weakness as @Cognitivedissonance says all the time. They might be kind to you but don't assume 'weakness'.

But the b22n sade thinks he knows best with his B22N LOOK Like Siyad thought he knew best with Russia who died in 91 also with him. Russia collapsed the same time we did, ethiopia did, somalia did, USSR DID, the world order changed.

But his back PUTIN in 2001 and cold war is on silently this time and you see the arabs back in our region setting up our ROLE again for us to collapse again because QATAR/TURKS/IRAN are for the Russian WORLD ORDER again. Saud/Dubai/PL are on the western side at all times like colonial times. We went with Italy not Ottomans. Ottomans lost and Sayidka. 1960-69 we wanted KENNEDY and America but b22n took us to RUSSIA. They always go the opposite ally we go and the whole nation SUFFERS in the end when that ALLY COLLAPSES.

Why would u Want Russia who is ancient nation meaning 'ancient' ties. They are orthodox church meaning they're linked with COPTIC church which is 'habesha' church, America is 'fresh start' niyahow with they're protestant churches being outside of orthodox/catholic 'war' that has raged for more then 1000 years now. We don't want the old world anymore, we left the ottomans for that reason. U see PL always goes to the new world in African countries who were born in the 60's lol. Newer people are easier to work with then ancient nations.

Then b22nta Sade linked us in with China which is always been the 'economic' arm of Russia and Russia the security arm of they're world order. They ensure your client state thru military deals, while China does the INVESTING like they were doing in Somalia. Niyahow I know how world order works, listen stick to AMERICANS if I were u they are DISCONNECTED from Ancient politics unlike Ancient nations who hold GRUDGES AND SHEET.

I don't want to TRY Russia/China again, it failed the first time, once bitten twice SHY baan ahay. I don't think they can pull over they're grand world order and create a new axis in the world. PL first axis was Zanzibar and Oman and India old world. Then we wanted to switch to the new world route in 1960-69 and connect to western world market place. Then b22n sade came and enuff said b22n activities begun and not recognizing majerten is boqortoyo and he was a B22N

 

[DR OSMAN]

Why you think from 91-2001 no activities or foreign actors in Somalia. The world was back to America and the West. Russia was out of the mix. 2001 Putin arrived and all this terrorism began. Then Somalia became a hot-spot again. We are linked to the world orders at all time. America were quite good and stayed out of our affairs as they're was no percieved threat after the USSR collapsed, Ethiopia did, Somalia did. They ran in and helped Ethiopians though to recover them but not Somalia the Americans which is something that was totally miscalculated by them. They should've ensured new administrations existed in all former soviet bloc allies so no-one can come and along later and begin trouble. Well it's to late now, but u can learn from history so u don't repeat it.

 

[DR OSMAN]

If you think this man is done with you Somaliyay, think again.

They are always scoping out they're old 'stomping grounds' and 'client states' around the world. Yes we were a client state, we were military client. He wants to russurect the 'past'. Turkey is on-board and has been sent in to begin humanitarian relief. Qatar is dealing with bank rolling GOVT or keeping it afloat. They got Iran and gave them nuclear knowledge. They're Iranian partners are fighting for Syria/Iraq/Hezbollah govt control for their 'axis'. They even reached YEMEN with houthis doing they're job ensuring Yemen returns to it's old communist location role.

Muslim Brotherhood and Iran are not enemies either but Russian partners. Turkey is MB idealogy thru erdogan who even admitted it. Egypt is the heartland of MB though but they're in opposition constantly due to west/saudi installing reliable military puppets to use the army on the MB when need be to stop Egypt from becoming a Russian client state.

 

[PhySom]

How you gonna source your money then? tell me your brilliant plan, Einstein? U can't get it anyway but a loan or charity. You just using words like grants and ngo recipients, welfare, are just words for the same thing. Your asking someone to DONATE to you. So how are we gonna to rely on donations since most countries are only put a aside a small percentage for donations? they don't dedicate much sxb to foreign aid each country is maybe 2% of theyre GDP. The money u get in donation is from the bank itself so its stupid you say not taking a loan, do u see u stupidity at all.

He doesnt understand that debt is not a bad thing , by acquiring the funds you can grow your economy and pay the loan back slowly. However the trick is to keep acquiring loans while you grow so you grow faster.

A successful country has alot of debts.

 

[Diaspora ambassador]

Tuulos are important, these are our future major cities

Yes but for now they are tuulos, there are more important objectives to achieve. For instance reconciliation, economy, stability , all three branches of the army, feeding the population and many more before we can talk about tuulos who will govern it and which tuulo will receive development first. We are not in the position for that yet.