Finance Minister convenes ministerial meeting of the Horn of Africa Initiative in Brussels

Addis Ababa, December 16, 2023 (FBC) – Ahmed Shide, Minister of Finance of Ethiopia and current Chairperson of the Horn of Africa Initiative (HOAI) co-chaired the 19th Ministerial meeting of HOAI along with the European Commission, Vice-President Margaritis Schinas from December 14-15, 2023, in Brussels.

Ministers of Finance of the Horn of Africa region and development partners including the World Bank, IFC, ADB, EIB, France, Germany, Netherlands, and the UK were present. In addition, representatives of the private sector & Brussels based civil society focused on development matters also took part in the event.

Ahmed shide emphasized that the HOAI has been instrumental to focus on regional integration that include infrastructure development and trade facilitation with encouraging achievements.

He also noted how an effective link was established with various development partners to realise the goals of the initiative. He commended the UK for becoming full member of the HOAI and informed participants on efforts underway to enlarge membership to non-traditional partners.

During the Ministerial meeting an €83 million EU Alliance agreement was forged as part of the EU Global Gateway partnership targeting to boost trade and economic integration as well enhance resilience to the Horn of Africa region.

Alongside the Ministerial meeting, Ahmed met and discussed with Margaritis Schinas, Vice President and Acting commissioner of INTPA and Enrique Mora deputy Secretary General of EEAS.

During the exchange of views, the two sides discussed about developments on macroeconomic achievements and challenges as well as current political dynamics in Ethiopia. The two sides agreed to continue collaborating on ways and means of strengthening the Ethiopia EU relations.