PM lauds Norway for its support to Somalia

Somali prime minister, Hassan Ali Kheire has held talks with Norwegian ambassador to Somalia, Vebjorn Heines in Mogadishu.

In a Twitter post, PM Kheire has thanked the government of Norway for its support to help Somali government rebuild the Horn of Africa nation.

“Hassan AKhaire had a good meeting with Amb. Vebjorn Heines, #Norwegian Special Envoy to #Somalia, whom he thanked for the consistent & enduring partnership we have had with #Norway which recently gave Somalia a bridge loan to help Gov meet midterm financial obligations,” reads a Twitter post by the office of the PM.

Last October, Norway announced to provide a $359 million bridging loan to Somalia 2020 to clear the debt owed to the World Bank’s International Development Association signalizing a major step towards the country’s debt relief.

The Norwegian government said in a statement it was proposing a short term loan of NOK 3.135 billion next year which will clear the arrears due to the World Bank.

Somalia’s debt to Norway amounts to NOK 16 million but this amount, Norway said, will be cancelled if Somalia’s other debtors commit to write off their debts to Somalia.

Somalia’s external debt amounts to approximately USD 4.7 billion and the country has been struggling to clear this debt through the Heavily Indebted Poor Countries (HIPC) initiative which grants debt relief to heavily indebted countries under a stringent framework.

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