East African Community (EAC) member states need about $10 billion in order to repair the infrastructure in the region.
Tanzania's Minister for East African Cooperation, Dr. Deodorus Kamala said the funds are needed to renovate the roads and railways with an objective of reducing the cost of doing business.
He told The East African Business Week in an interview that the World Bank and African Development Bank have already shown interest to help renovating the railway from the current imperial gauge of 3.03 feet to the standard gauge of four feet.
"We are engaging various development partners and stakeholders to support the region," he said.
The East Africa Region operates five modes of transport consisting of road, rail, maritime, air transport and oil pipeline. The region's development strategy recognised that regional infrastructure interventions are key to attracting investment into the region, improving competitiveness, and promoting trade.
The infrastructure and support services sub-sectors cover roads, railways, civil aviation, maritime transport and ports, multi-modal transport, freight administration and management.
A number of Tripartite Agreements have been reached in the field of infrastructure including road transport, and inland waterways transport.
In another development EAC is looking forward to implementing the industry policy that will incorporate all other policies that were formerly implemented in each member country before the signing of the common market.
He said that following the signing of the common market protocol, each country will have its on regulations on land, movement of people and issues of employment.
"Each country has signed the protocol voluntarily and with the approval of its people" he noted. He said Tanzania will allow other countries to invest in farming as one way promoting the country's Kilimo Kwanza Initiative.
He said that partner states are obliged to put more efforts to look for financial institutions and donor fund agencies that are ready to finance EAC projects.
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