Finance Minister presides over HoAI 21st Ministerial Meeting in Nairobi

Addis Ababa, May 30, 2024 (FBC) – The Horn of Africa Initiative (HoAI) convened 21st ministerial meeting alongside the African Development Bank’s 2024 annual meetings at the Kenyatta international convention center in Nairobi.

The meeting’s core agenda focused on the performance of the HoAI portfolio and the implementation of the Borderlands Roadmap. The need for tailored approaches to project implementation was underscored, as was the importance of local ownership and leadership in enhancing regional cooperation. Moreover, the meeting addressed the ongoing economic disparities within the region, particularly in underserved borderland communities emphasizing the necessity of consolidating resources and forging robust partnerships to address the region’s challenges.

Under the leadership of Ethiopia’s Finance Minister, Ahmed Shide, and co-chair Marie-Laure of the African Development Bank, the event marked a significant stride towards regional unity and prosperity.

Minister Ahmed Shide, in his opening remarks, acknowledged the critical contributions of his Kenyan counterpart, Cabinet Secretary Prof. Njuguna, and praised the African Development Bank for their role in orchestrating the HoAI meeting alongside their annual event.

The assembly recognized the essential support of development partners and at the event Germany announced a €10 million grant to the HoAI confirming that this pledge is part of a larger collaborative effort, aimed at replenishing the Multi-Donor Trust Fund (MDTF) and enhancing the Initiative’s foundational work

The Nairobi ministerial gathering, where BADEA, the Arab Bank for Economic Development in Africa announced its full-fledged membership with the HoAI, served as a testament to the unwavering commitment of leaders and partners to the Horn of Africa’s development, per the Ministry of Finance.