ADB gives sh25b grant
Dec 14, 2006
THE African Development Bank (ADB) has approved a $13.8m (sh25.6b) grant to the East Africa Trade and Facilitation Project, Ambassador Juma Mwapachu, the secretary general of the East African Community (EAC), has said in a statement.
By Sylvia Juuko
THE African Development Bank (ADB) has approved a $13.8m (sh25.6b) grant to the East Africa Trade and Facilitation Project, Ambassador Juma Mwapachu, the secretary general of the East African Community (EAC), has said in a statement.
The project is aimed at enhancing cross-border trade within the region.
The board of the African Development Fund, which provides development finance on concessional terms, approved the grant on November 29.
The grant will finance the EAC ($9.3m), the Northern Corridor Transit Coordination Authority ($3m), while the Central Corridor Transit Transportation Facility will receive $1.5m.
“The ADB-funded component of the project aims at enhancing cross-border transport through implementation of a one-stop border post principle at selected border posts including Namanga, Holili, and Malaba and support for the implementation of the East African Community Road Transport Agreement,†he said.
Mwapachu said the transport agreement was ratified in 2004 and will streamline transport between the three countries through elimination of multiple transit documents and establishment of route management committees. The committees will address transit issues in customs, immigration, security and road safety.
THE African Development Bank (ADB) has approved a $13.8m (sh25.6b) grant to the East Africa Trade and Facilitation Project, Ambassador Juma Mwapachu, the secretary general of the East African Community (EAC), has said in a statement.
The project is aimed at enhancing cross-border trade within the region.
The board of the African Development Fund, which provides development finance on concessional terms, approved the grant on November 29.
The grant will finance the EAC ($9.3m), the Northern Corridor Transit Coordination Authority ($3m), while the Central Corridor Transit Transportation Facility will receive $1.5m.
“The ADB-funded component of the project aims at enhancing cross-border transport through implementation of a one-stop border post principle at selected border posts including Namanga, Holili, and Malaba and support for the implementation of the East African Community Road Transport Agreement,†he said.
Mwapachu said the transport agreement was ratified in 2004 and will streamline transport between the three countries through elimination of multiple transit documents and establishment of route management committees. The committees will address transit issues in customs, immigration, security and road safety.