The bank’s board of directors has approved R1.1 billion in investment programmes to help Somalia’s federal government. File Image: IOL

JOHANNESBURG - The World Bank is providing direct financing to Somalia’s government for the first time in 27 years, calling it a “milestone” in the reconstruction of the Horn of Africa nation long shattered by fighting, according to a statement. 

The bank’s board of directors has approved R1.1 billion in investment programmes to help Somalia’s federal government “mobilise and redistribute the resources needed to rebuild the country after three decades of conflict”.

- African News Agency (ANA)