Tereza Jeremiah
Africa-Press – South-Sudan. South Sudan has a number of projects approved for expected funding under the Horn African initiative.
Speaking to South Sudan Broadcasting Cooperation (SSBC) television yesterday, the Minister of Finance and Planning, Bak Barnaba Chol, revealed after attending the 18th Horn of Africa ministerial summit that the ministers had retreated in Addis Ababa, Ethiopia, to chart the roadmap which is a strategic initiative to ensure private sector engagement and improve regional economies. He said the initiative will benefit South Sudan.
“South Sudan have a number of projects that are approved and the funding is on the pipeline…we have discussed two important documents on the roadmap and engagement of the private sector,” he said.
The HoA summit was chaired by Ahmed Shide, Ethiopia’s Finance Minister, and Jutta Urpilainen, the European Commissioner for International Partnerships.
According to Bak, the discussion was centred on the development of borderlands and appealing to private sector investments through public-private partnerships or by forming a promising investment climate. The roundtable meeting also explored ways to address common global challenges.
Urpilainen and Shide were reported to have discussed the macroeconomic situation, ongoing reforms and the renovation development in Ethiopia.
Shide, who is the Horn of Africa Initiative’s chairperson, revealed that they are looking forward to implementing the borderland and private sector road maps. He added that there is a need to take stock of the implementation progress further so that there is no loss in the ongoing projects.
The major funders are the African Development Bank, the World Bank, the European Union, Germany and France.
However, the Horn of Africa (HoA) Ministerial Group is named the highest rank in the structure of the initiative.
The Ministerial Group, are made up of ministers of finance of the participating countries which normally meet quarterly to deliberate strategic and related matters relating to the HoA countries.
The key meetings are also attended by development partners and key stakeholders.
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