$8B Aid Package Aims to Bolster Horn of Africa Economy
International donors pledged $8 billion in development aid for projects across eight countries in the Horn of Africa, United Nations chief Ban Ki-moon announced at the start of a visit to the region in October 2014.
The aid, from organizations including the World Bank, African Development Bank, European Union and Islamic Development Bank, will support efforts to boost economies and stem conflict and hunger across the volatile region. Countries targeted are Djibouti, Eritrea, Ethiopia, Kenya, Somalia, South Sudan, Sudan and Uganda.
“The countries of the Horn of Africa are making important, yet unheralded, progress in economic growth and political stability,” Ban said in a statement. “Now is a crucial moment to support those efforts, end the cycles of conflict and poverty, and move from fragility to sustainability.”
Ban, who began his Horn of Africa trip in Ethiopia, also traveled to neighboring Djibouti and Kenya, leading a delegation from six other international organizations.
Projects include support for oil pipelines and improving transport links, and boosting education and Internet access.
Aid also is intended to increase cross-border trade and boost economic growth amid rampant unemployment and help the millions who have been displaced by war or hunger.
“This new financing represents a major new opportunity for the people of the Horn of Africa to make sure they get access to clean water, nutritious food, health care, education and jobs,” World Bank chief Jim Yong Kim said.
“There is greater opportunity now for the Horn of Africa to break free from its cycles of drought, food insecurity, water insecurity and conflict.”
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