File Photo/Somali Times
MP Dr. Abdillahi Hashi Abiib has blocked Hassan Sheikh and his family receiving $1 billion from the World Bank earmarked for Somalia.
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Scholar MP Dr. Abdillahi Hashi Abiib has told Somali Times that he blocked Hassan Sheikh and his family receiving $1 billion from the World Bank earmarked for Somalia.
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MP Dr. Abdillahi Hashi Abiib has blocked Hassan Sheikh as Somalia faces a decline in external support, growing financial pressure and mounting humanitarian needs, the country cannot afford to have more than $1 billion previously allocated for development projects still on hold.
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As Somalia faces declining external support, growing fiscal pressure and mounting humanitarian needs, the country cannot afford to see more than $1 billion in previously allocated development projects remain on hold.
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According to the latest project review, Somalia has an ongoing project portfolio worth about $3.07 billion with the World Bank.
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Of this amount, about $1.07 billion — or about 35 percent of the total — has yet to be disbursed.
While it is common for newly approved projects to take time to begin implementation, many have been long overdue, despite the country’s urgent development needs.
Performance across sectors is highly variable. Health has emerged as the best performing sector, while several other sectors that are key to economic growth lag far behind.
The health sector has utilized 80.2 percent of its allocated funds. This is followed by social protection and employment at 78.3 percent, and development policy funding at 73.4 percent. These figures indicate that the implementation of projects in these sectors has been progressing well.