| Financier | Commitments |
|---|---|
| Somalia Multi-Partner Fund | 3.13 |
Supporting remittance flows to Somalia
Development Objective
The project aims to tackle key challenges with the UK-Somalia remittance corridor until a sounder financial system is in place in Somalia, and to accelerate and support the development of that financial system. More specifically, this project is intended as an interim set of activities to support the supervisory role of the Central Bank of Somalia. The activities will also support the SomaliGovernment’s plan on the formalization of the Somali financial sector. Over time, the project has evolved to include both shorter-term and longer-term elements to strengthen the systems supporting the flow of remittances to Somalia.
Key Details
Project Details
P158235
Closed
Thilasoni Musuku , Lisa Bostwick, Marco Nicoli
Central Bank of Somalia
December 8, 2015
(as of board presentation)
January 14, 2016
N/A
US$ 3.13 million
Federal Ministry of Finance
2016
US$ 3.13 million
C
Not Applicable
September 30, 2020
BANK APPROVED
July 15, 2022
Finances
Financing Plan (US$ Millions)
Total Project Financing (US$ Millions)
| Product Line | IBRD/IDA |
|---|---|
| IBRD Commitment | N/A |
| IDA Commitment | N/A |
| IBRD + IDA Commitment | N/A |
| Lending Instrument | |
|---|---|
| Grant Amount | 3.13 |
| Total Project Cost** | 3.13 |
Summary Status of World Bank Financing (US$ Millions) as of April 30, 2025
No data available.
Detailed Financial Activity as of April 30, 2025
No data available.
Results Framework
PROJECT DEVELOPMENT OBJECTIVE INDICATORS
| INDICATOR | BASELINE | CURRENT | TARGET |
|---|
None Value 0.00 0.00 0.00 Date March 1, 2020 Comment
INTERMEDIATE RESULTS INDICATORS
| INDICATOR | BASELINE | CURRENT | TARGET |
|---|
None Value 0.00 0.00 0.00 Date March 1, 2020 Comment