7 April 2014

East Africa: EAC Plans to Trim Annual Budget By U.S. $10 Million

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.

Copyright © 2014 Tanzania Daily News. All rights reserved. Distributed by AllAfrica Global Media (allAfrica.com). To contact the copyright holder directly for corrections — or for permission to republish or make other authorized use of this material, click here.

AllAfrica publishes around 2,000 reports a day from more than 130 news organizations and over 200 other institutions and individuals, representing a diversity of positions on every topic. We publish news and views ranging from vigorous opponents of governments to government publications and spokespersons. Publishers named above each report are responsible for their own content, which AllAfrica does not have the legal right to edit or correct.

Articles and commentaries that identify allAfrica.com as the publisher are produced or commissioned by AllAfrica. To address comments or complaints, please Contact us.