The European Union (EU) has signed a financing agreement with the Intergovernmental Authority on Development (IGAD). 

The financing comes at a time when the trade bloc faces a host of challenges in its efforts to promote peace, security and development in the East African region.

Some of these challenges include conflict and instability, political fragmentation, economic disparities, transnational threats, resource management, climate change and cross-border movements. Addressing these challenges requires coordinated efforts and funding.

The financing agreement worth Euros four million (about shillings 17 billion) is expected to support IGAD's efforts in addressing a spectrum of issues in the Horn of Africa, including natural disasters, humanitarian crises and peace and security challenges.

According to a press statement issued on February 27, 2024, IGAD deputy executive secretary Mohamed Abdi Ware signed the agreement on behalf of the body's executive secretary, with EU ambassador to Djibouti and IGAD Sylvie Tabesse.

The agreement signed on the same day as the release, 'is enhancing the EU-IGAD partnership and highlights the EU’s acknowledgement of IGAD’s important role in promoting regional development and peace in the Horn of Africa'.

The agreement, according to the statement, mirrors a shared commitment to stability, security and development in the IGAD region. It also symbolises the EU’s trust in IGAD’s capacity to drive positive change, reflecting their belief that supporting IGAD is an investment in a more peaceful and prosperous Horn of Africa.

About IGAD

IGAD, which is headquartered in Djibouti city, Djibouti, is an eight-country trade bloc in Africa that includes governments from the Horn of Africa, the Nile Valley and the African Great Lakes. The member countries are Uganda, Kenya, Djibouti, Ethiopia, Sudan, South Sudan, Tanzania and Eritrea.