EAC budget up to $8m
Jun 29, 2009
THE East African Community (EAC) has approved $8.58m (sh18.5b) to support various projects and programmes for the financial year 2009/10.
By David Mugabe
THE East African Community (EAC) has approved $8.58m (sh18.5b) to support various projects and programmes for the financial year 2009/10. “The upscaling of support to the EAC from $640,920 during 2006/07 to $1.9m in 2007/08 and then to $6.6m in 2008/09 is a clear manifestation of the growing support and recognition of the EAC by the development partners,†the secretary general of the East African Community, Juma Mwapachu, said at a meeting of the East African Community Partnership Fund in Arusha, Tanzania, recently.
The fund was established in September 2006 by EAC and six development partners; the European Union (EU), World Bank, Finland, France, Germany and Norway and was launched in the financial year 2006/07.
Donor support to the EAC projects has increased by almost 300% in three consecutive years. Mwapachu said in the eyes of the World Trade Organisation, the EAC is the role model of integration in sub-Saharan Africa.
The EAC is currently engaged in negotiations for the EAC Common Market Protocol, whose signing is scheduled for November 2009; the second EAC Investment Conference scheduled for August 29 to 31, 2009 in Nairobi, the EAC 10th anniversary celebrations and preparations to launch the EAC Customs Union in Rwanda and Burundi.
The EAC is expected to establish a single customs union territory by 2010. Mwapachu, in a statement, paid gratitude to the EU.
THE East African Community (EAC) has approved $8.58m (sh18.5b) to support various projects and programmes for the financial year 2009/10. “The upscaling of support to the EAC from $640,920 during 2006/07 to $1.9m in 2007/08 and then to $6.6m in 2008/09 is a clear manifestation of the growing support and recognition of the EAC by the development partners,†the secretary general of the East African Community, Juma Mwapachu, said at a meeting of the East African Community Partnership Fund in Arusha, Tanzania, recently.
The fund was established in September 2006 by EAC and six development partners; the European Union (EU), World Bank, Finland, France, Germany and Norway and was launched in the financial year 2006/07.
Donor support to the EAC projects has increased by almost 300% in three consecutive years. Mwapachu said in the eyes of the World Trade Organisation, the EAC is the role model of integration in sub-Saharan Africa.
The EAC is currently engaged in negotiations for the EAC Common Market Protocol, whose signing is scheduled for November 2009; the second EAC Investment Conference scheduled for August 29 to 31, 2009 in Nairobi, the EAC 10th anniversary celebrations and preparations to launch the EAC Customs Union in Rwanda and Burundi.
The EAC is expected to establish a single customs union territory by 2010. Mwapachu, in a statement, paid gratitude to the EU.