Norway announced that it contributed $30 million to World Bank-administered Somali Multi-Partner Fund (MPF) on Sunday after a meeting between Somalia’s federal finance minister and Norway’s Minister of International Development in Mogadishu.
Dr. Elmi Mohamud Nur said the funds would be used to strengthen financial reform.
“It was a pleasure to welcome Norway’s Minister for International Development, Anne Beathe, to Somalia today. Norway is a strong supporter and contributor to our nation’s economic reforms. Today’s $30 million contribution to the WorldBank Somalia MPF will help our country further,” said the Minister of Finance.
Norway is one of nine Western nations providing funding to the MPF, which was established in 2013 as Somalia sought to rebuild its core institutions.
The MPF has been Somalia’s primary source of World Bank financing since being reintroduced to international financial institutions.
