The African Development Bank (@AfDB_Group), through the leadership of Dr. Akinwumi A. Adesina, @akin_adesina, created the Somalia Infrastructure Fund (SIF) in 2016, targeting 55 projects valued at about half a billion U.S Dollars, under the African Development Bank’s Transition Support Facility (TSF).
Six years later, a review shows, only five (5) projects were actually implemented worth just over 100 mn USD. This forms part of a multi-partner initiative, the Somalia Development and Reconstruction Facility (SDRF), created under the New Deal Somalia Compact.
Some of the major reasons of the AfDB’s shortcomings in Somalia include; that the bank doesnt have a country team and monitory agent that ensures every dollar is spent in the planned project. it is time that the African Development Bank (@AfDB_Group) gets involved in Somalia in a different approach and diversify donor funding.
Additionally, AfDB should leverage its continental comparative advantage in food security, social sector infrastructure investments, digital economy, climate change adaptations and seek unconventional donors to deliver unique support and give AfDB in Somalia a new status.