Latest News:  
Beijing   Shower    27 / 20   City Forecast


IMF ready to help drought fight effort in Horn of Africa


11:09, August 25, 2011

WASHINGTON, Aug. 24 (Xinhua) -- The International Monetary Fund (IMF) said Wednesday it is ready to provide financial aid to countries in Northeast of Africa -- the Horn of Africa, to fight severe drought crisis.

"The IMF stands ready to provide financial assistance to affected countries, both by increasing support under existing programs and, where needed, through our Rapid Credit Facility, which provides quick-disbursing funds to countries facing an urgent balance of payments need," the IMF Managing Director Christine Lagarde said in a statement on the drought in the Horn of Africa.

She said the 187-member international lender is committed to " help as much as possible in the international assistance effort" and "encourage others to join this effort".

"We are working closely in our areas of expertise with affected countries in the region, including in assessing the economic consequences and financing needs," Lagarde said.

The statement came a day ahead of an African Union meeting in Addis Ababa to raise relief funds for victims of East Africa's worst drought in decades, which has affected millions of people in parts of Ethiopia, Djibouti, Kenya and Uganda.

In a statement released on July 25, the World Bank, IMF's sibling institution based in Washington, also expressed their commitment to help the drought hit African area.

The bank announced it will provide more than 500 million dollars to help drought victims.

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, according to the World Bank.


Leave your comment0 comments

  1. Name


Selections for you

  1. Air-sea rescue exercise held in Shanghai

  2. Moderate quake hits US east coast, no casualties

  3. Armored combat vehicles speedily board warship

  4. Motorbike-shaped craftwork made of lobsters

Most Popular


  1. Trial voyage turns 'China threat theory' on its head
  2. Global economy not to suffer deep recession
  3. No safe havens in global financial storm
  4. HK blessed with new development opportunity
  5. US public is paying the price
  6. West lashing out when faced with uncertain future
  7. Death penalty may appeal, but law has higher call
  8. Stronger RMB does not mean unilateral revaluation

What's happening in China

7 detained in NE China coal mine flood

  1. Guo Meimei not linked with RCSC
  2. 'Best' Universiade comes to an end
  3. 'Public opinion didn't sway trial'
  4. Source of the Yellow River stops shrinking
  5. Stricter standards to be set for plants

PD Online Data

  1. The She ethnic minority
  2. The Yao ethnic minority
  3. The Russian ethnic minority
  4. The Oroqen ethnic minority
  5. The Li ethnic minority