DJIBOUTI (Halbeeg News) – Somali finance minister, Abdirahman Beileh Duale has attended a meeting with Finance Ministers of Djibouti, Kenya, Somalia, Ethiopia and Sudan to discuss the progress of the Horn of Africa Initiative (HoAI) in areas such as trade and energy as well as to develop a regional digital eco-system.
The meeting in Djibouti was also attended by Nnenna Nwabufo, Director General East Africa of the African Development Bank (AfDB), and the Executive Secretary of IGAD Dr. Workineh Gebeyehu,
Minister Dualeh has welcomed the meeting saying it will help the region to overcome challenges effecting the governments of the horn of Africa region.
The current chair of the HoAI Secretariat, Mr. llyas Moussa Dawaleh, Minister of Economy and Finance, Djibouti on his behalf said thus far, the Initiative has mobilized over US$3.3 billion 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 US$15 billion financing package for its already approved priority development projects.
Ethiopian Minister, Ahmed Shide said the Initiative will be developing new priorities to align Sudan’s economic development agenda with the Initiatives’ programme, and said the first project involving Sudan is expected to be approved in the upcoming year such as the agro-pastoralism project that has already been submitted by the country.
The Minister also 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.
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