MOGADISHU, Oct. 6 (Xinhua) -- The African Development Bank (AfDB) said on Friday that it has approved a 13.29-million-U.S. dollar grant to help Somalia improve domestic revenue mobilization and public expenditure management.
The lender said the grant comprises 9.31 million dollars from the resources of the African Development Fund, the Bank Group's concessional financing window for low-income countries, and 3.98 million dollars from Pillar 1 of the Transition Support Facility for fragile states.
"The institutional capacity-building component of the project will focus on improving the efficiency of tax collection and strengthening Somalia's ability to fund development investments and maintain its viability in budgetary terms," the AfDB said in a statement.
The lender said the project entails providing technical assistance, training and tools to improve Somalia's domestic revenue mobilization and build institutional capacity at all levels of the federal government and federal member states.
The project will also support promoting inclusive governance and accountability for greater economic resilience. ■
