Tanzania — The 19th Steering Committee meeting of EAC Partnership Fund was held here today at Mt. Meru Hotel and attended by representatives from UK/DFID, Germany, Finland, France, Sweden, Norway, European Union, USA, World Bank, Belgium, Canada, Japan, Denmark, Permanent Secretaries in charge of East African Community Affairs in the Partner States, and EAC Secretariat officials. Addressing delegates, the Secretary General of the East African Community Amb. Dr. Richard Sezibera commended Governments of the Development Partners (DPs) for seeing the need to intensify development co-operation within the EAC.
The Secretary General noted that the Community was currently implementing the 4th EAC Development Strategy which focuses on the full implementation of the EAC Common Market Protocol, the establishment of the EAC Monetary Union and laying of a strong foundation for Political Federation. "This is intended to stimulate investments, promote employment and growth and, on the whole, lead to increased diversification and major transformation of the region's economy" asserted Amb. Sezibera.
The Secretary General said since the inception of Partnership Fund, the proportionate contribution by the Development Partners budget increased from USD 640,920 in 2006 to USD 7,970,250 in FY 2012/2013. Out of the Budget of US$7,970,250 for FY 12/13 the expenditure was US$6,934,247, which was equivalent to 87%.
He said the performance of the Partnership Fund for the FY 2012/2013 reflected the notable impact on the overall regional programme. Adding that "the funds support towards the finalization of the East African Monetary Union Negotiation cannot go unnoticed as we are nearing the end of the Protocol accentuation".
"Your support has also gone a long way in supporting other sectors including the Health sector, conformity to free movement of people between countries, the establishment of a Grand Free Trade Area (COMESA-EAC-SADC) commonly known as the Tripartite Arrangement, establishment and operationalization of One-Stop Border Posts (OSBP) that is under way at several border posts in the region".
The Head of Resource Mobilization Unit at the EAC Secretariat, Dr. James Njagu thanked the Development Partners for committing to make disbursements totaling US$7.4 million for the current financial year. Dr Njagu informed the meeting that a three year results based framework had been finalized and therefore the Steering Committee will not need to approve activities every year. The results based framework is already costed.
At the 19th Steering Committee meeting of EAC Partnership Fund, the Development Partners approved the External Audit Report of the fund for FY 2012/2013 which was a condition for disbursements.
The EAC Partnership Fund is a basket fund mechanism with annual contributions from Development Partners (DPs) aimed at supporting the EAC projects and programmes that are geared towards regional integration.
It was established on 15 September 2006 and is open to DPs who finance it through Contribution Agreements and Memoranda of Understanding (MoUs) signed between DPs and the EAC.
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