By Mohamed Abdi - Reporter
Baku, Azerbaijan (Dawan) – Somalia’s Finance Minister Bihi Iman Ige and Islamic Development Bank President Muhammad Al Jasser signed a three-year Country Engagement Framework (CEF), the Finance Ministry said.
The $45 million agreement, covering 2026-2028 period, outlines the strategic financial cooperation between Somalia and the Islamic Development Bank. It on two key pillars:
1. Resilient Economic Infrastructure: Investments in critical sectors such as energy and agriculture aim to boost productivity, accelerate economic growth, and reduce poverty.
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2. Human Capital Development: Funding will support health services, vocational training, workforce upskilling, and capacity building, with particular emphasis on empowering women and youth.
Minister Ige emphasized that the framework strengthens cooperation between Somalia and the IDB, opening new opportunities for development projects that improve the lives of Somali citizens.