UN, Development Bank Leaders Launch Horn of Africa Initiative on High-Level Visit
Associated Organization: IISD
UN Secretary-General Ban Ki-moon announced a US$8 billion initiative to reduce poverty, boost economic growth and promote business activity across the Horn of Africa, during a visit to the region with global and regional leaders. The World Bank, African Development Bank (AfDB), Islamic Development Bank (IsDBG) and EU also made pledges to the Horn of Africa Initiative, which aims to enhance the regions's economic development and its food and water security, among other aims.
The leaders' visit began in Addis Ababa, Ethiopia, on 27 October 2014. The Horn of Africa also includes Djibouti, Eritrea, Kenya, Somalia, South Sudan, Sudan and Uganda. According to the UN, while the region has untapped natural resources and some of the world's fastest growing economies, many countries are experiencing poverty, unemployment and gender inequality and are vulnerable to corruption, drug trafficking, piracy and violence.
The Horn is also predicted to undergo “dramatic and lasting change” when oil production begins in Kenya, Uganda and possibly Ethiopia and Somalia, according to a Working Paper by the World Bank. The paper highlights “encouraging signs” of strong political will to solve development and security issues through cooperation and enhanced regional economic interdependence.
read more: http://sd.iisd.org/news/un-development-bank-leaders-launch-horn-of-africa-initiative-on-high-level-visit/
Themes: Agriculture, fisheries and food security, Poverty and vulnerability, Water
Regions: East Africa
Countries: Djibouti, Eritrea, Ethiopia, Kenya, Somalia, South Sudan, Sudan, Uganda
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