Nneka Nwogwugwu
The United Nations will spend $250 million from its emergency fund to tackle “forgotten crises’ around the world, including helping communities that are facing the risk of famine in Africa.
Its secretary general, Antonio Guterres said at a news conference on the sidelines of the annual African Union summit in Ethiopia.
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“I’m announcing the largest-ever allocation from our United Nations Central Emergency Response Fund,” Guterres said.
African countries are getting a raw deal from the international financial system which charges them “extortionate” interest rates, the United Nations Secretary General, Antonio Guterres, said at the weekend.
The UN chief, who spoke at the opening ceremony of the annual African Union summit in Ethiopia, also announced $250 million in crisis funding, including for famine risk on the continent.
Guterres called for far-reaching reforms to the structure of international finance to serve the needs of developing countries more efficiently at the event, quoted by Reuters.
