World Bank pledges $500 million for Horn of Africa

AFP, Monday 25 Jul 2011

The World Bank on Monday pledged more than $500 million (348 million euros) to aid the drought-stricken Horn of Africa region, as United Nations aid chiefs met in Rome to discuss ramping up relief efforts.

The bulk of the money will go towards long-term projects to aid farmers while $12 million will be for immediate assistance to those worst hit by the crisis and facing starvation.

"The recurring nature of drought... calls not only for immediate relief from the current situation but also for building long term drought resilience," Obiagelii Ezekwesili, World Bank vice president for Africa, said in a statement.

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