Addis Ababa, Ethiopia, October 27, 2014—Leaders of global and regional institutions today begin an historic trip to the Horn of Africa to pledge political support and major new financial assistance for countries in the region, totaling more than $8 billion over the coming years. UN Secretary-General Ban Ki-moon, the World Bank Group (WBG) President, Jim Yong Kim, as well as the President of the Islamic Development Bank Group and high level representatives of the African Union Commission, the European Union, the African Development Bank, and Intergovernmental Agency for Development (IGAD) are combining forces to promote stability and development in the Horn of Africa.
African Union’s New Partnership for Africa’s Development (NEPAD) Agency signed a memorandum of understanding (MOU) with USAID to implement Power Africa Initiative, which was unveiled by President Barack Obama in 2013. In support of NEPAD's Program for Infrastructure Development in Africa (PIDA), Power Africa initiative aims to accelerate Africa's economic transformation and sustainable development by increasing access to reliable, affordable and climate resilient energy.
The Ethio-Japan investment seminar took place at the Addis Ababa Hilton Hotel on Monday August 25th, 2014. The Seminar brought Japanese, Ethiopian businesses and high level Ethiopian government Officials for interesting presentations and discussions.