African Development Bank (ADB) has pledged to launch projects to reconstruct roads in Somalia following an agreement with the Somali government.
Abdullahi Sheikh Ali, the deputy finance minister has signed the agreement on behalf of Somalia.
The bank will facilitate the funds meant to run the construction.
Officials from the bank and Somali minister for Water and Energy, Fowzia Mohamed Sheikh have also jointly signed water supply project scheduled to launch in Kismayo and Baidoa town of southern Somalia.
The signing representatives of the Federal Government of Somalia, the Federal Member States, the Bank, and the EU were present at the ceremony.
The move comes barely four months after the Italian Government signed an agreement for an additional €1 million contribution to the Multi-Partner Somalia Infrastructure Fund through African Development Bank.
The Fund is one of the financing windows under the Somalia Development and Reconstruction Facility of the New Deal Compact for Somalia.
It was meant to aim at supporting and accelerating Somalia’s inclusive and sustainable economic recovery, peace and state-building, through rehabilitation and development of the country’s infrastructure.