The Board of Directors of the African Development Fund have approved a US$125 million project for the first phase of a 'green economy' drought resilience project and the provision of long-lasting means of subsistence to affected populations in the Horn of Africa.
The first phase of this regional project due to begin in 2013 covers Djibouti, Ethiopia and Kenya as well as the IGAD secretariat.
The grants provide US$15 million for Djibouti, US$7 million dollars for the IGAD secretariat, and US$46 and US$56 million respectively to Ethiopia and to Kenya in the form of loans.
The money will be channeled to support activities aimed at restoring the means of subsistence to populations through investment in natural resources management, including water grazing grounds, integrated land management, and the restoration and protection of the ecosystem as well as assisting agricultural and livestock infrastructure.
The project will also contribute to the improvement of storage, marketing and transportation facilities including rural roads. It is expected to benefit a total of 12 million people through the implementation of an inclusive 'green' program which will have a deep-rooted environmental and socio-economic impact in the affected regions.