Finance Ministers of the Horn Forge a New Path for Borderland Development

Oct 7 , 2023

Finance ministers of the Horn of Africa convened in the capital last week to discuss the development of borderlands and private sector engagement during a Ministerial Initiative Meeting at Skylight Hotel, Airport Road. The 18th meeting was chaired by Minister Ahmed Shide of Ethiopia and saw the attendance of development partners, including Jutta Urpilainen, the European Commissioner for International Partnerships and representatives from the World Bank and African Development Bank. They were joined by newly appointed finance ministers Bihi Egeh from Somalia and Baak Barnaba Chol, from South Sudan. Ahmed disclosed the initiative has now reached a halfway resource mobilisation target of 18 billion dollars, and signed a 730 million grant covering the Ethiopia part of the Djibouti corridor. The Ministerial meetings are aimed at providing a platform to connect and determine the required actions to accelerate the progress of the horn development. The Finance Minister called for development partners to consider funding the short-term actions through targeted resources mobilised for this purpose. He urged leveraging the dialogue to address shared regional challenges, particularly in border areas as they are located far from the central government and a melting pot for conflicts. On the contrary, he underscored they are also thriving areas intertwined with diverse cultures, livelihoods and trading spots that are strategic points. "It can be a demarcation of shared prosperity instead of division," he told Fortune.


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