31 August 2014

East Africa: EU Allocates 85 Million Euro to EAC

The European Union (EU) through the European Development Fund (EDF 11) has allocated the East African Community 85 million Euros for 2016 to 2020 period.

The funds will focus on three main priorities namely; peace and security (15 million euro), regional economic integration (45 million euro), and natural resources (25 million euro).

This development came to light on Saturday when the Secretary General of the East African Community, Amb. Dr. Richard Sezibera met in Dar es Salaam the EU Head of Delegation and Ambassador to the United Republic of Tanzania, Filiberto Ceriani Sebregondi.

Out of the 45 million euro meant for regional economic integration, 15 million euro will be for the implementation of key Protocols namely; the Customs Union, the Common Market, and the East African Monetary Union, while 30 million euro will be accessed by Partner States to support trade related activities.

In another development, the Secretary General Dr. Richard Sezibera met and held discussions today in Dar es Salaam , with the Indian High Commissioner to the United Republic of Tanzania, Amb. Debnath Shaw.

The two discussed the outcome of the recent India-Africa Summit that took place in New Delhi , India. They outlined critical areas that need follow up including; a proposed meeting between India and EAC later in September 2014 to agree on key areas for support; training opportunities by the government of India; how to link the East African Business Council (EABC) with the Confederation of Indian Industries; and finally the need to review and update of the current MoU between EAC and India.

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