Finance Ministers Discuss Progress of Horn of Africa InitiativeFinance Ministers Discuss Progress of Horn of Africa Initiative

Addis Ababa June 26/2021 (ENA) Finance Ministers of Djibouti, Kenya, Somalia, and Sudan, including Ahmed Shide of Ethiopia are discussing the progress of the Horn of Africa Initiative (HoAI) in areas such as trade and energy and develop a regional digital ecosystem.

The ministers in Djibouti were joined with Nnenna Nwabufo, Director-General of East Africa  African Development Bank (AfDB), and the Executive Secretary of IGAD Workneh Gebeyehu who is attending the meeting as an observer.

The meeting, which includes development partners such as the World Bank and EU as well as various media organizations, according to Ministry of Finance.

During the meeting, Finance Minister Ahmed Shide said the initiative will be developing new priorities to align Sudan’s economic development agenda with the initiatives’ programme, adding that the first project involving Sudan is expected to be approved in the upcoming year.

Furthermore, he expressed his appreciation for the continued support and commitment of the African Development Bank, the European Union, and the World Bank Group in helping advance the implementation of the programs of the Horn of Africa Initiative.

HoAI Secretariat Chair, llyas Moussa Dawaleh said theinitiative has thus far mobilized over 3.3 billion USD from the three development partners to finance critical regional priorities in areas such as transport connectivity, energy trade, digital economy, trade facilitation, agro-pastoralism, locust control, and building resilience.

The HoAI is currently working to mobilize 15 billion USD financing package for its already approved priority development projects, it was learned.

Source: Ethiopian News Agency