World Bank

A Somali flag

Somalia secures $4.5 billion debt relief deal with international creditors

The deal comes as part of a debt forgiveness program —called the Heavily Indebted Poor Countries initiative— overseen by the IMF and the World Bank. As a result of its participation in the program, Somalia’s external debt will fall from 64% of GDP in 2018 to less than 6% of GDP by the end of 2023.

Somalia secures $4.5 billion debt relief deal with international creditors More

African girls smiling

World Bank approves $365 million USD for advancing girls and women empowerment in Africa

The SWEDD+ project has the potential to directly benefit over 2 million vulnerable girls aged between 10 to 19 years old who are at risk of child marriage, early pregnancy, gender-based violence, and leaving school in Burkina Faso, Chad, Senegal, The Gambia, and Togo.

World Bank approves $365 million USD for advancing girls and women empowerment in Africa More