Africa-Press – Ethiopia. The 23rd Horn of Africa Initiative Ministerial Meeting will be held next week to review the successes and prospects of the initiative.
The initiative, which consists of Ethiopia, Djibouti, Eritrea, Kenya, Somalia, Sudan and South Sudan, is supporting regional projects including infrastructural integration, trade and economic integration, capacity building to natural and man-made challenges as well as human resource development.
Briefing the media, following the meeting with heads of implementer institutions of the projects under the initiative in Ethiopia today, Finance Minister and Horn of Africa Initiative current Chair Ahmed Shide said the initiative is significantly contributing for member countries.
The World Bank, European Union, and African Development Bank, in collaboration with IGAD which has been instrumental since its inception, have been supporting the initiative as Germany and UK governments have joined as the latest partners, according to the minister.
According to him, 15 billion USD was the target to be mobilized for the investment of the regional countries under the initiative.
Over half of the target has been already secured from development partners including the World Bank, EU, and African Development Bank, the chair added.
He disclosed that Ethiopia has earned over 3 billion USD for the implementation of about 20 regional projects being implemented under the government.
Encouraging achievements have been witnessed in the implementation of the projects during the past three years, the minister said.
Ahmed revealed that building of water infrastructures around pastoralist areas, trade facilitation, institutional integration, improvement of the customs system, and enhancement of relations in various spheres have been among the productive results gained during the implementation period.
During the briefing, the minister also stated that the preparation for the 23rd Horn of Africa Initiative Ministerial meeting to be held in the coming week in Addis Ababa is being finalized.
The focus of the upcoming meeting is reviewing the journey of the initiative, strengthening regional integration, setting next directions and reaffirming political commitment and strengthening ties with development partners.
The meeting is also poised to critically assess the successes and prospects of the HoAI, aiming to further bolster the initiative’s impact on promoting economic integration through infrastructure development, trade facilitation, investment, human development, and resilience among its member states, it was learned.
Ethiopia has led the initiative as chair for the past two years.
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