Somalia - Economic and Financial Governance Institutional Support Project

The Economic and Financial Governance Institutional Project is initiated by Federal Government of Somalia with the support of the African Development Bank. It aims to strengthen government capacity in the budgeting process and resource allocation towards policy priorities. This will enhance the impact of the national budget on the delivery of services and hence poverty reduction through increasing efficiency and effectiveness of resource allocation and execution in line with pro-poor policies. This project is a centerpiece of the Bank's continued and early re-engagement in Somalia to support its transition out of conflict. It builds upon previous Bank supported Public Financial Management (PFM) reforms in Somalia. It has three components: (i) enhancing fiscal planning and economic analysis underpinning the national budget, (ii) strengthening the budget preparation process for accountable and effective allocation of resources; and (iii) support to capacity development in PFM and macroeconomic management and project management.