Overview
One initiative for several challenges
The Horn of Africa Initiative
During the World Bank Group/IMF Annual Meetings held on 18 October 2019 in Washington, D.C., the Ministers of Finance and other representatives of the Horn of Africa (HoA) countries highlighted the importance of developing a coordinated approach and came together in the Horn of Africa Initiative, bringing the nations together to address shared regional challenges.
Challenges that like natural disasters, pandemics, insecurity, and fragility that know no borders. On the other hand, better regional connectivity, more trade, and improved access to energy and digital services are expected to make a big contribution to economic growth and poverty reduction. There are also inherent economies of scale to be explored in the Horn of Africa Initiative.
To this end, the HoA countries have agreed on priority proposals in four thematic areas, where the national policies of the countries converge to achieve deeper regional cooperation and integration in the Horn of Africa.
- Improving regional infrastructure connectivity; which aims at an "Interconnected Horn" by promoting transport, energy and digital sector connectivity
- Promoting trade and economic integration, to boost trade, growth, and jobs
- Building resilience; to climate change and other shocks, including in the region’s borderland areas
- Strengthening human capital development, to address pandemics, boost skills and improve access to social services for the people of the Horn of Africa
