WB provides $90 million to carry out Horn of Africa initiative

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WB provides $90 million to carry out Horn of Africa initiative

[21/09/2024 08:52]

WASHINGTON-SABA
The Board of Executive Directors of the World Bank (WB) has approved an extra funding of $90 million for the implementation of the Horn of Africa initiative in Djibouti.

In a press release the WB said" The new financing will support efforts to scale up the original $70 million project approved in December 2021 to enhance regional connectivity, resilience and survival, improve the efficiency and security of logistics, transportation and mobility for the population of Djibouti along the southern corridor between Djibouti and Addis Ababa,"
"This project comes within the framework of a broader regional integration initiative in the Horn of Africa that includes Djibouti, Eritrea, Ethiopia, Kenya and Somalia", the WB added.

The WB stated that the new funding is also set to support efforts to upgrade, improve, manage and maintain three sectors of the Southern Corridor route, as well as activities aimed at supporting transit facilitation to promote regional integration and provide technical assistance to the Government of Djibouti.