BRAZZAVILLE, Congo — Somalia’s Finance Minister Bihi Egeh held talks with the newly elected President of the African Development Bank (AfDB), Dr. Sidi Ould Tah, on the sidelines of the bank’s annual meetings in Brazzaville, as Mogadishu seeks to accelerate economic recovery and attract foreign investment.
The meeting focused on Somalia’s economic reform agenda, infrastructure development, and opportunities for deeper cooperation between the Federal Government and the African Development Bank, officials said.
Minister Egeh highlighted the government’s efforts to strengthen public financial management, improve transparency, and create conditions conducive to investment, according to a statement released after the talks.
The discussions also explored ways to expand infrastructure projects and support job creation, particularly for Somalia’s growing youth population.
Dr. Ould Tah reaffirmed the AfDB’s commitment to supporting Somalia’s development priorities, including infrastructure, economic resilience, and regional integration.
The talks come as Somalia continues to rebuild ties with international financial institutions following its landmark debt relief under the Heavily Indebted Poor Countries (HIPC) initiative in 2023, which paved the way for renewed access to international financing.
In recent years, Mogadishu has pursued reforms aimed at increasing domestic revenue, modernizing public finance systems, and improving investor confidence despite persistent security challenges and recurring climate-related crises.
The African Development Bank has expanded its engagement in Somalia through investments in roads, water, energy, and regional connectivity projects as the country seeks closer economic integration with East Africa.