World Bank approved 100 million dollars for Somalia corrupt president Hassan Sheikh




The World Bank has approved a $100 million grant to support the continuation of Somalia’s economic reform efforts to complete the country’s debt relief.

These funds support the government’s efforts to increase financial transparency and increase revenue through the harmonization of federal customs systems and the improvement of central government financial management.

Read: Somalia’s president Hassan Sheikh history of corruption 2012-2017




As Somalia continues to face challenges related to climate change, this financial support will strengthen economic resilience and investment in fisheries and renewable energy to create jobs and growth.

“This initiative will increase government funding to address the drought situation, while continuing to reform progress towards debt relief in Somalia,” said Kristina Svensson, World Bank Country Manager for Somalia.

Read: Somalia’s president Hassan Sheikh history of corruption 2012-2017




The World Bank reports that in June 2022, 46% of Somalis face food insecurity due to worsening drought conditions and the effects of inflation, such as higher food and fuel prices, partly due to the war from Ukraine.

Despite these challenges, the World Bank praised Somalia for maintaining economic stability and continuing to participate in the Debt Relief Initiative.