Somalia Receives $18M from African Development Bank to Combat Climate Change

Published: May 28, 2024

MOGADISHU, Somalia (Horseed Media) — The African Development Bank has donated $18 million to Somalia to support the country’s efforts in addressing environmental issues and mitigating the impacts of climate change.

The financial agreement was jointly signed by Somalia’s Finance Minister, Mr. Bihi Iman Cige, and the African Development Bank’s Vice President, Dr. Beth Dunford, in a significant move for the Somali government.

Speaking on the occasion, Minister Cige highlighted the benefits of the project for the Somali people, particularly farmers and herders, and its role in tackling the recurring problems of floods and droughts. “This $18 million project will greatly benefit the Somali people, especially those engaged in agriculture and livestock rearing, and will also help address the recurring challenges posed by floods and droughts,” he said.

The African Development Bank’s annual conference this year is focused on reforming African financial institutions and addressing climate change. The conference, titled “Africa’s Transformation, African Development Bank Group, and Reform of the Global Financial Architecture,” is being held at the presidential level, with some African leaders expected to deliver speeches on Wednesday.