Gabbal Posted May 28, 2003 NAIROBI, 28 May 2003 (IRIN) - The World Bank has resumed operations in Somalia for the first time since suspending its activities there at the onset of the 1991 civil war. In a statement, the Bank said it would now assume a leading role through the "Low-Income Countries Under Stress" initiative, which supports countries "with very weak policies, institutions and governance" where lending might not be an option. The Bank's re-engagement would focus on four strategic entry points - macroeconomic data analysis and dialogue, livestock, HIV/AIDS and capacity building for skills development. In formulating this strategy, the Bank said it had held extensive consultations with various partners, donors, UN agencies and Somali stakeholders. The initiative will be jointly implemented with the UN Development Programme (UNDP) and other partners, the statement said. The World Bank suspended its lending to Somalia following the collapse of the state in 1991, and resumption of new lending is prevented by the fact that the country is in arrears, lacks a functional government and is affected by an unstable security situation. The statement added that the proposed activities would be covered by a grant from the Bank's Post-Conflict Fund. [ENDS] Quote Share this post Link to post Share on other sites
