Somalia - Strengthening Institution for Economic Policy Management and Infrastructure Development Project (SIEPMID) (AFDB-P-SO-K00-002)

Countries
  • Somalia
Where the impacts of the investment may be experienced.
Financial Institutions
  • African Development Bank (AFDB)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Approved
Bank Risk Rating
U
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
Mar 25, 2019
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower
Government of Somalia
The holder of the loan, grant, or other investment.
Sectors
  • Finance
  • Law and Government
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 4.19 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Primary Source

Original disclosure @ AFDB website

Updated in EWS Sep 8, 2020


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Project Description

According to bank documents, the overall objective of the project is to enhance institutional capabilities in economic planning to anchor government's formulation, implementation and coordination of macro-economic and fiscal policies; data quality and reporting; and technical skills development that is critical for the reconstruction and development phases of the Somali economy.

The Strengthening Institution for Economic Policy Management and Infrastructure Development Project (SIEPMID) aims to improve financial and economic governance in Somalia. The project also supports infrastructure rehabilitation by ensuring that all civil works are underpinned by technical feasibility studies and sound analysis. It includes the following three components: (i) Institutional Capacity Strengthening for Improved Economic Policy Analysis, Implementation and Coordination. This component focuses on establishing, staffing and equipping the Economic Strategy Unit (ESU) under the Minister of Finance. Six (6) subject matter experts (economists, financial analyst, fiscal analyst, expenditure management and intergovernmental affairs) will be recruited under the project. The proposed ESU's main activities will be to provide expert advice to the Minister of Finance, enhance coordination between finance and planning functions, and coordinate implementation of the various actions across government ministries and agencies required for meeting the benchmarks under the Staff Monitored Programs. (ii) Enhancing Skills for Infrastructure Development. The component focuses on building Somalia's expertise in upstream studies needed for the implementation of infrastructure projects, including the corridors program. This work will draw from and build on the findings of the Transport Sector Needs Assessments (TSNA) for Somalia, which was commissioned and sponsored by the Bank. These upstream studies will focus on targeted rehabilitation works for: Belet Weyne-Galkayo-Garowe road (including the link between Belet Weyn and Ferfer (Somalia/Ethiopia border)); Luuq, Ganane-Dolow road, and; Galkayo-Hobyo road. (iii) Project Management: This component entails monitoring and evaluation activities, external audit and Project management activities.

Investment Description
  • African Development Bank (AFDB)
Contact Information

*Contact information not provided at the time of disclosure*

ACCOUNTABILITY MECHANISM OF AfDB

The Independent Review Mechanism (IRM), which is administered by the Compliance Review and Mediation Unit (CRMU), is the independent complaint mechanism and fact-finding body for people who have been or are likely to be adversely affected by an African Development Bank (AfDB)-financed project. If you submit a complaint to the IRM, it may assist you by either seeking to address your problems by facilitating a dispute resolution dialogue between you and those implementing the project and/or investigating whether the AfDB complied with its policies to prevent environmental and social harms. You can submit a complaint electronically by emailing crmuinfo@afdb.org, b.kargougou@afdb.org, b.fall@afdb.org, and/or s.toure@afdb.org. You can learn more about the IRM and how to file a complaint at https://www.afdb.org/en/independent-review-mechanism/.