World Bank Approves another 143 million in Somali Social Welfare Programme

[codewebsduh]

World Bank to Support Somalia’s Drought Response through Cash Transfers to 500,000 Households

The World Bank approved $143 million in International Development Assistance (IDA)* financing to help vulnerable Somalis overcome the escalating drought and food insecurity conditions across the country.

www.worldbank.org

 

[codewebsduh]

The Baxnaano programe developed by the last admin allows rapid transfer of money to needy households.

 

[bidenkulaha]

 

[bidenkulaha]

$20mn will be in direct cash transfers mostly to the 3 IDP camps massively under stress Garowe, Mogadishu and Baidoa.

This further help comes as UAE donates $30mn this month and America $50mn. IMF approved $18mn disbursement after IMF executive board completed the 2nd and 3rd reviews for the Extended Credit Facility (ECF) arrangement for Somalia

 

[ZBR]

You know that’s a high interest loan to enslave the nation and they’ll use it as collateral to extort and control the government

 

[bidenkulaha]

You know that’s a high interest loan to enslave the nation and they’ll use it as collateral to extort and control the government

Somalia is already a heavily indebted country. $4.8bn however in two to threes years after the IMF debt relief program concludes Somalia’s debt will be reduced to below $500mn

 

[ZBR]

Somalia is already a heavily indebted country. $4.8bn however in two to threes years after the IMF debt relief program concludes Somalia’s debt will be reduced to below $500mn

Debt restructuring and forgiveness isn’t free they dangle that in front of you to make you sign agreements that extract and exploit your resources and shackle your future

this has been happening since colonial times
These people aren’t our friends or well wishers

 

[bidenkulaha]

Debt restructuring and forgiveness isn’t free they dangle that in front of you to make you sign agreements that extract and exploit your resources and shackle your future

this has been happening since colonial times

Somalia needs major economic reform to have access to international finance. So I welcome us adopting the standards of the Western world.

We should make sure we strike reasonable resource deals (unlike other African countries who are selling their resources for cheap to the Chinese), increase government revenue from taxation, rebuild our national currency so we have the ability to use QE, make the CBS independent from the Somali government and be able to offer cheap interest loans to the Somali public, encourage a market free from monopolies through strong and robust regulations, also be under the guidance of the IMF in which sectors we need to invest for productivity increase and revenue growth.