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Italy: €1 million to support Somalia Infrastructure Fund

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Friday, 01 June 2018

Italy: €1 million to support Somalia Infrastructure Fund

More The African Development Bank, on May 28, 2018 in Mogadishu, participated in a signing ceremony that occasioned Italy's contribution of €1 million to the Somalia Infrastructure Fund (SIF). The ceremony was witnessed by Albert Mafusire, the African Development Bank's Principal Country Economist for Somalia, who represented the Bank's Deputy Director General for East Africa and Country Manager for Somalia, Nnenna Nwabufo; the Italian Ambassador to Somalia, Carlo Campanile; and the Federal Government of Somalia's newly appointed Minister of Public Works, Reconstruction and Housing, Abdifatah Mohamed Ibrahim. The Somalia Infrastructure Fund is a Multi-Partner Fund with the overall goal of supporting Somalia to rebuild institutions, rehabilitate key infrastructure, and reinforce economic governance. The SIF, which is administered by the African Development Bank, aims to contribute to the efforts of Somalia and its development partners to consolidate peace, establish the basic institutions of a functioning state, and to accelerate inclusive and sustainable economic recovery and development. As a special fund, the SIF operates within the framework of the Bank's Strategy for Addressing Fragility and Building Resilience in Africa: 2014-2019. Ambassador Campanile acknowledged the Bank's efforts in investing in infrastructure in Somalia, noting that the importance of the infrastructure needs assessment studies carried out by the Bank in highlighting the needs of Somalia in key sectors, including transport, energy, and water and sanitation.

Source: Allafrica