During the 55th session of the Council of Ministers of the Republic of Somaliland, held last Wednesday at the Presidential Palace and chaired by President Abdirahman Mohamed Abdillahi Irro with Vice President Mohamed Ali Aw Adan in attendance, Hon. Abdillahi Hassan Adan, Minister of Finance and Economic Development, delivered a detailed report on the country’s economic situation.
Minister Abdilaahi, supported by experts from his ministry, informed the Council that over the past year, the Ministry of Finance and Economic Development has significantly strengthened its oversight and coordination of projects funded by the World Bank and the African Development Bank.
This enhanced role has ensured timely implementation of activities, improved utilization of allocated budgetary funds for projects, and reinforced accountability and transparency across all implementing ministries and agencies.
The Minister highlighted several key factors that have driven this progress:
Strong ministerial leadership backed by a clear strategy.
High-level collaboration and partnership with the World Bank and the African Development Bank.
Targeted capacity building programs specifically designed for Directors General in relevant ministries.
Regular monitoring and quarterly performance evaluations.
Establishment and strengthening of effective coordination mechanisms.
The presentation underscores the Ministry’s ongoing efforts to build a more resilient and transparent economic framework, contributing to Somaliland’s sustained development amid various challenges. The Council received the report positively as part of broader discussions on national priorities.