Somalia - Economic and Financial Governance Institutional Support Project (EFGISP) Phase II

The proposed intervention concerns the second phase of the Economic and Financial Governance Institutional Support Project in Somalia. This is part of the Bank’s continuous engagement with countries in fragile situation as well as a response to a specific request from the Federal Government of Somalia to support the government’s state building efforts. The project will contribute to capacity enhancement in macroeconomic management through strengthened revenue and PFM institutions, as well as improving transparency and accountability for better public service delivery. It builds on the work of the previous financial governance projects, and aims to consolidate their achievements. Specific areas that will be maintained include support to debt management and budget preparation. The project has three mutually reinforcing components: (i) Strengthening macro-economic planning and management (ii) Enhancing control, transparency and accountability in the use of public resources, and (iii) strengthening capacity for project management. The expected outcomes are: (i) Enhanced domestic revenue mobilization which will be measured through increased revenue to GDP ratio, and; (ii) Improved fiscal space to increase share of budget allocated to social sectors. The project will be implemented over the period 2018-2020 with a total cost (exclusive of tax and customs duty) estimated at UA 5.5 million, including contingencies.