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Grant: International Development Assistance Program

International Monetary Fund

$1,300,000.00

IMF Somalia Country Fund Phase II

FY 2020-21 · 2021-03-10

Summary
This project aims to enhance Somalia’s capacity to implement sound macroeconomic policies, which in turn helps Somalia reach debt relief and finance its’ national development plan, laying the foundations for reduced poverty and inclusive development. This project builds on the gains achieved and lessons learned during Phase I of the Somalia Country Fund. This project provides capacity development to the federal Government of Somalia in five areas: (1) macroeconomic frameworks and policies; (2) central bank management and operations; (3) tax and customs policy modernization; (4) public financial management, including investment and debt management and gender-based budget analysis; and (5) production and dissemination of macroeconomic data, including sex-disaggregated data. This project works to deliver capacity development via a combination of virtual seminars, short-term expert visits, technical assistance missions, peer-to-peer learning, trainings in “third-country” locations, on-line webinars and courses, and mentorships.
Program
International Development Assistance Program
Location
Washington | Washington, US
Recipient Type
Not-for-profit organization or charity
Type
Grant
Source
Proactive Disclosure - Grants and Contributions

As published

Agreement End Date
2023-03-31
Agreement Number
7428278 P008840001
Agreement Start Date
2021-03-10
Agreement Title
IMF Somalia Country Fund Phase II
Agreement Title (French)
Fonds du FMI pour la Somalie - Phase II
Agreement Type
Grant
Agreement Value
$1,300,000.00
Amendment Number
0
Description
This project aims to enhance Somalia’s capacity to implement sound macroeconomic policies, which in turn helps Somalia reach debt relief and finance its’ national development plan, laying the foundations for reduced poverty and inclusive development. This project builds on the gains achieved and lessons learned during Phase I of the Somalia Country Fund. This project provides capacity development to the federal Government of Somalia in five areas: (1) macroeconomic frameworks and policies; (2) central bank management and operations; (3) tax and customs policy modernization; (4) public financial management, including investment and debt management and gender-based budget analysis; and (5) production and dissemination of macroeconomic data, including sex-disaggregated data. This project works to deliver capacity development via a combination of virtual seminars, short-term expert visits, technical assistance missions, peer-to-peer learning, trainings in “third-country” locations, on-line webinars and courses, and mentorships.
Description (French)
Ce projet vise à renforcer la capacité de la Somalie à mettre en œuvre des politiques macroéconomiques saines, ce qui aidera la Somalie à atteindre un allègement de sa dette et à financer son plan de développement national, pour ainsi jeter les bases d’une réduction de la pauvreté et d’un développement inclusif. Ce projet s’appuie sur les gains réalisés et les leçons apprises au cours de la phase I du Fonds pour la Somalie. Ce projet permet de renforcer les capacités du gouvernement fédéral de la Somalie dans cinq domaines : 1) cadres et politiques macroéconomiques; 2) gestion et opérations de la banque centrale; 3) modernisation des politiques fiscales et douanières; 4) gestion des finances publiques, y compris la gestion des investissements et de la dette et l’analyse budgétaire fondée sur l’égalité des genres; 5) production et diffusion de données macroéconomiques, y compris des données ventilées par genre. Ce projet vise à fournir des activités de renforcement des capacités, notamment une combinaison de séminaires virtuels, de visites d’experts à court terme, de missions d’assistance technique, d’activités d’apprentissage entre pairs, de formations dans des pays tiers, de webinaires et de cours en ligne, et de mentorats.
Expected Results
The expected outcomes for this project include: (1) enhanced technical capacity of Somali officials; (2) strengthened key institutions; (3) enhanced macroeconomic, fiscal, and customs policies and processes; and (4) improved fiscal and macroeconomic decision-making based on national data.
Expected Results (French)
Les résultats escomptés de ce projet comprennent : 1) les capacités techniques des fonctionnaires somaliens sont améliorées; 2) les institutions clés sont renforcées; 3) les politiques et processus macroéconomiques, fiscaux et douaniers sont renforcés; 4) la prise de décision fiscale et macroéconomique fondée sur des données nationales est améliorée.
Organization Code
dfatd-maecd
Organization
Global Affairs Canada | Affaires mondiales Canada
Program Name
International Development Assistance Program
Program Name (French)
Programme d'aide au développement international
Program Purpose
The main purpose on the International Development Assistance Program is to reduce poverty for those living in countries where Global Affairs Canada engages in international development.
Program Purpose (French)
L’objectif princial du programme d’aide au développement international du Ministère est de réduire la pauvreté pour les populations qui vivent dans les pays où Affaires mondiales Canada se livre au développement international.
Recipient City
Washington | Washington
Recipient Country
US
Recipient Legal Name
International Monetary Fund
Recipient Type
N
Reference Number
064-2020-2021-Q4-00359
International Monetary Fund - $1,300,000 Grant (2020-… | Canada Spends