As emergency meeting begins, World Bank announces $500m aid to drought-hit horn of Africa

The World Bank has pledged to provide more than $500 million to assist drought victims in the Horn of Africa.

An additional $12 million will be made available in immediate assistance to help those worst hit by the crisis, the Bank says today July 25, 2011.

Meanwhile an international emergency summit is currently on-going in Rome, Italy on the unfolding tragedy in the region.

The meeting, hosted by the Food and Agriculture Organization of the United Nations will discuss how world leaders can address the famine and drought affecting Horn of Africa.

More than 11 million people in the region have been hit by one of the worst droughts in 60 years, resulting in widespread hunger, deaths, and the loss of subsistence crops and livestock.

Rising food prices and deteriorating livestock prices have exacerbated the situation, and the UN is warning of worsening conditions in the coming months, the World Bank said.

“Immediate relief and recovery is the first priority, and it is important to act fast to reduce human suffering…But we also have an eye on the long term solutions of economic recovery and drought resilience that are key to re-establishing livelihoods and ensuring that droughts don’t take such a heavy human toll in the future,” said World Bank President Robert B. Zoellick in a statement.

By Ekow Quandzie