Somaliland: Officials from the Ministry of Finance and the World Bank Hold Meeting to discuss SERP Project

By Goth Mohamed Goth

Hargeisa (SomalilandCurrent) – The Minister of Finance and Economic Development of the Republic of Somaliland, flanked by the Deputy Minister of Finance, the Director-General of the Ministry of Finance, and the Coordinator of the Somaliland Enhancing Public Resources Project (SERP) funded by the World Bank, today hosted a delegation from the World Bank led by Ms. May, the Task Team Leader of the SERP project.

During the meeting, the Ministry of Finance officials emphasized key priorities for the coming years, including alignment with the Ministry’s Five-Year Plan (2024–2028), the Annual Operational Plan, and the Project Plan, which focuses on effective implementation and progress. Discussions highlighted the importance of ensuring that project activities adhere to the principles of the Public Financial Management Reform Program and strengthening collaboration between Somaliland and the World Bank .

The World Bank delegation reaffirmed their commitment to supporting the Ministry’s priorities and outlined plans to hold detailed workshops over three days (Saturday, Wednesday, and Thursday) to finalize project activities. These workshops will involve government institutions directly involved in the SERP project.

Somaliland-World Bank Collaboration:

The Somaliland Ministry of Finance has previously coordinated with the World Bank on projects worth $129 million, including infrastructure, energy, and governance initiatives .

1. SERP Project: Somaliland Enhancing Public Resource Management Project (SERP) funded by the World Bank, which aims to improve fiscal transparency and institutional capacity , The initiative is similar (Somalia SERP). This suggests parallel efforts in Somaliland to strengthen public financial systems with World Bank support.
2. Focus on Reform: The meeting aligns with broader goals of enhancing governance and service delivery, mirroring World Bank-supported reforms in Somalia, such as improving revenue collection and institutional coordination .

Analysis of the Meeting’s Significance:

• Strategic Alignment: The emphasis on Somaliland’s Five-Year Plan and Annual Operational Plan reflects a structured approach to development, similar to Somalia’s efforts under the HIPC debt relief initiative .
• Operational Priorities: The focus on project implementation and adherence to financial management principles echoes the World Bank’s broader strategy in the region, such as ensuring timely budget allocations and avoiding delays .