Ethiopia’s capital, Addis Ababa, has been announced as the venue for the 23rd Ministerial Meeting of the Horn of Africa Initiative (HoAI) scheduled for February 2025.
This significant announcement was made during the 22nd Ministerial Meeting, which coincided with the fifth anniversary of the HoAI, highlighting a significant milestone in regional cooperation and development.
The recent meeting in Washington D.C., co-chaired by Ethiopia’s Finance Minister, Ahmed Shide, and Victoria Kwakwa, World Bank Vice President for Eastern and Southern Africa, was held alongside the Annual Meetings of the World Bank and International Monetary Fund.
It convened Finance Ministers and key stakeholders from the Horn of Africa, focusing on pressing issues such as resilience and innovative financing mechanisms aimed at fostering sustainable development across the region.
During the discussions, Minister Shide underscored the critical role of international partnerships and extended a warm welcome to new participants, includin
g the newly appointed Finance Ministers from Kenya and South Sudan, as well as Ms. Nnenna Nwabufo from the African Development Bank.
A major focus of the meeting was the urgent need for enhanced climate financing to tackle the growing challenges posed by climate change in the region, according to Ministry of Finance.
The upcoming 23rd Ministerial Meeting in Addis Ababa will critically assess the successes and prospects of the HoAI, aiming to enhance its impact on economic integration through infrastructure development, trade facilitation, investment, human development, and resilience among its member states: Djibouti, Somalia, Kenya, Ethiopia, Eritrea, South Sudan, and Sudan.
Since its launch in 2019, the Horn of Africa Initiative has successfully mobilized approximately 11.8 billion USD, significantly advancing the strategic pillars of the initiative and making substantial strides in regional integration and development.
The forthcoming meeting in Addis Ababa is anticipated to be a crucial event, continu
ing the collaborative efforts to achieve sustainable growth and stability in the Horn of Africa.
Source: Ethiopian News Agency