The Minister of Finance of the Federal Government of Somalia Bihi Iman Egeh, has concluded a high-level meeting with a senior delegation from the Islamic Development Bank (IsDB), marking the end of a week-long consultation series focused on revitalizing the historic relationship between Somalia and the Bank.
The closing session, chaired by Minister Egeh, capped off five days of intensive discussions aimed at identifying key national priorities for development financing and deepening cooperation between the Government of Somalia and IsDB. This series of engagements follows Somalia’s successful attainment of debt relief under the Heavily Indebted Poor Countries (HIPC) Initiative, paving the way for direct re-engagement with international financial institutions, including IsDB.
The consultations brought together representatives from multiple Somali government institutions and focused on several priority areas. Central to the discussions was the formulation of a new three-year strategic cooperation agreement that aligns with Somalia’s development agenda and the Bank’s support programs.
Both parties explored ways to finance national development initiatives, particularly in infrastructure, energy, health, and education.
Special attention was also given to the ongoing implementation of Somalia’s National Transformation Plan (NTP), a flagship development strategy that underscores the Government’s commitment to inclusive economic growth, institutional reform, and poverty alleviation.
The NTP is seen as a cornerstone for sustainable development and is expected to benefit from increased support through this renewed partnership.
The Islamic Development Bank remains one of Somalia’s most valuable and long-standing development partners. With the resumption of direct engagement, Somalia aims to unlock new opportunities for growth, modernization, and economic resilience. The Bank’s continued support is viewed as instrumental in strengthening national capacities, improving public service delivery, and fostering private sector development.
This strategic collaboration is a major step toward securing a prosperous future for the Somali people — one built on economic empowerment, infrastructure development, and effective governance.
The minister reaffirmed the Federal Government’s commitment to strengthening the relationship with the Islamic Development Bank and ensuring the successful execution of joint development projects that are impactful, inclusive, and aligned with Somalia’s long-term vision.