The Djibouti Regional Economic Corridor project is set to receive a US $80M funding approved by the World Bank. This funding, added to the original $7
The Djibouti Regional Economic Corridor project is set to receive a US $80M funding approved by the World Bank. This funding, added to the original $70 million approved in December 2021, is aimed at improving regional connectivity, enhancing logistics efficiency, and increasing accessibility for residents along the Djibouti-Addis Southern Corridor.
Scope of work
The project, part of a broader initiative that includes Djibouti, Eritrea, Ethiopia, Kenya, and Somalia, supports the Horn of Africa’s regional integration goals, which began in 2019. The new funding will focus on the rehabilitation, improvement, and maintenance of three key sections of the Southern Corridor Road, alongside transit facilitation and technical support for the Djibouti government.
Ousmane Dione, the World Bank Vice President for the Middle East and North Africa, emphasized the role of this financing in solidifying Djibouti’s status as a regional trade hub and supporting its Vision 2035 goals of economic diversification and social inclusion. Djibouti’s Minister of Economy and Finance, Ilyas Moussa Dawaleh, also highlighted the importance of this investment in fostering regional development and connectivity. Creating digital economic portals and opportunities will decongest the cross-border logistics traffic thereby improving the delivery of services and support the downstream industries.