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Monday,November 19,2018 18:56 PM

East African Dev't Bank gets new chief

By Vision Reporter

Added 5th March 2009 03:00 AM

THE East African Development Bank (EADB) governing council has appointed Vivienne Yega Apopo as the new director general.

By Sylvia Juuko

THE East African Development Bank (EADB) governing council has appointed Vivienne Yega Apopo as the new director general.

Apopo who has been the African Development Bank resident representative to Zambia, replaces Godfrey Tumusiime.

“The appointment is an indication of the continued confidence that the member states and major financial shareholders have in EADB’s ability to be at the forefront of regional integration efforts through provision of development finance and financing of a broad range of projects in all productive sectors of the member states’ economies,” Uganda’s finance minister, Syda Bbumba, said.

Bbumba who is also the EADB’s governing council chairperson, said the bank was faced with several challenges due to the debt crisis.

She said the next 12 months would be instrumental in shaping and repositioning the institution to play an even greater role in supporting the social and economic development.

“The East African Community member states and EADB’s major financial shareholders recognise the pivotal role that EADB plays in the integration process and are prepared to give such support as is necessary to ensure that the bank carries out this mandate fully,” she said in a statement.

Bbumba said the EADB was a vital link to the international financial institutions to finance regional development programmes.

The statement disclosed that the member states and financial shareholders of the EADB had pledged support to the bank’s new drive to become a major force in influencing economic growth and development in the region.

For the last five years, the member states have injected over $45m to the bank.

ensure that the bank carries out long-term funding to the various sectors in the region’s economies.

East African Dev't Bank gets new chief

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