UN Secretary General Ban Ki-moon has today announced $8 billion funding for the Horn of Africa countries on a joint tour which started in Ethiopia.

The Horn of Africa Countries include Djibouti, Eritrea, Ethiopia, Kenya, Somalia, South Sudan, Sudan, and Uganda.

“The countries of the Horn of Africa are making important yet unheralded progress in economic growth and political stability,” Ban Ki-Moon said.

“Now is a crucial moment to support those efforts, end the cycles of conflict and poverty, and move from fragility to sustainability.”

Mr. Ban says the UN is joining with other global and regional leaders to ensure a coherent and coordinated approach towards peace, security and development in the Horn of Africa.

Ban Ki-moon is accompanied in his tour by the President of the World Bank, Jim Yong Kim, the President of the Islamic Development Bank Group, and high level representatives of the African Union Commission.

There are also representatives from the European Union, the African Development Bank, and Intergovernmental Agency for Development or IGAD touring the region with Mr. Ban.

On the first day of the joint trip on Monday, the World Bank pledged 1.8 billion US dollars for cross-border activities in a Horn of Africa Initiative intended to boost economic growth and opportunity, reduce poverty, and strengthen business activity.

The African Development Bank also announced a pledge of 1.8 billion US dollars over the next three years for countries of the Horn of Africa region.

While the Islamic Development Bank has committed to deploy up to one  billion US dollars in new financing in its four member countries in the Horn of Africa: Djibouti, Somalia, Sudan and Uganda.