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VideoSeptember 28, 2023

Trade and Regionalism in the Horn of Africa

The Horn of Africa’s livestock trade is worth hundreds of millions of dollars a year, largely in the export of live animals to the Middle East. Hear about a project supported by the World Bank that is mobilizing private capital to help pastoralists in Djibouti, Ethiopia, Kenya, and Somalia earn a greater share of the profits by improving their access to markets.

DRIVE, the De-risking, Inclusion and Value Enhancement of Pastoral Economies project, also protects pastoralists against financial losses from natural disasters and the effects of climate change. The project’s aim is to build financial resistance to climate shocks with a package of financial services, which include drought insurance and savings and digital accounts and better integrate pastoralists in value chains. The World Bank has earmarked $360.5 million for the project, which is expected to mobilize $572 million in private capital.