Arusha — THE East African Community (EAC) plans to cut down its current annual budget by over $10 million, with effect from next fiscal year.
The Deputy EAC Secretary General in charge of Finance and Administration, Mr Jean-Claude Nsengiyumva, revealed that the Community would be tabling $120 million budget estimates for its next financial year (2014/2015).
It means the EAC will be shedding off over $10 million from its current budget which was floated here late last year to the tune of $130 million, $87 million of which was injected into financing the secretariat's activities at its headquarters in Arusha.
The EAC's 2013/2014 financial year budget, which totalled $130,429,394, was mainly being funded by foreign donors who footed 70 per cent of the total sum, while the five member states pooled together the remaining 30 per cent.
The 2013/2014 budget also happened to be $10 million less than the previous fiscal year, which was a whopping $140 million in total.
In the current budget the Community's organs got a total of $87 million, with the Secretariat awarded $69,787,824, the East African Legislative Assembly (EALA) getting $13,089,982 and the East African Court of Justice (EACJ) allocated $4,279,489.
With $87 million (142 bil/-) going to the Arusha based EAC bodies, the rest of the money went to the Inter- University Council for East Africa, which operates from Uganda and which received $9,692,785, while the remaining $3,203,042 was earmarked for the Lake Victoria Fisheries Organisation.
It is only $37,297,442 of the 2013/2014 budget which is being financed by the five partner state of Kenya, Rwanda, Uganda, Burundi and Tanzania.
Development partners have been pumping in the lion's share of the budget sum of $85,676,850, while the other agencies pooled in $7,249,252, with the EAC itself raising $205,850 from other sources.