World Bank has released a grant of $70 million to Somalia.
The grant, through the International Development Association (IDA), has already received approval from the World Bank board.
World Bank announced that the funds would go towards developing resilience in specific areas.
These include agriculture, water, and environmental services.
Rural communities in the drylands of the East African nation are set to be the primary beneficiaries of the grant.
The grant is likely to benefit Somalia greatly as it comes at a time when the country faces a season of unprecedented drought and worsening food insecurity.
Somaliland would benefit from the grant too.
Other beneficiaries will be the residents of all five Federal Member States (FMS).