somali prime minister meets IFC regional director to boost economic cooperation

The Prime Minister of the Federal Government of Somalia, Hamza Abdi Barre, on Monday received in his office the Director of the International Finance Corporation (IFC) for East Africa, Ms. Mary Porter Peschka, who is on an official visit to Mogadishu. The IFC is a member of the World Bank Group.

The meeting focused on strengthening cooperation between the Federal Government of Somalia and the IFC, particularly in the implementation of the National Transformation Plan (NTP) 2025–2029. The plan aims to advance economic infrastructure, promote private sector growth, enhance participation in shared-benefit development projects, and encourage innovation and entrepreneurship.

Prime Minister Hamza thanked the IFC for its continued financial support and role in Somalia’s economic development, noting that the country has made significant progress in increasing domestic revenue and economic growth.

For her part, Ms. Mary Porter Peschka expressed her appreciation for the warm reception and reaffirmed the IFC’s commitment to deepening its partnership and cooperation with the Federal Government of Somalia.