Arusha — The jobless people must smiling broadly following Germany's interest in encouraging more private sector investments in the East African Community (EAC) bloc, it was announced here yesterday.
The envisaged investments will not only spur industrialisation and technology transfer, but also create employment for thousands of jobless people.
"Big brand names from Germany are increasingly getting interested in investment opportunities here," said the German ambassador to Tanzania, Dr Detlef Watcher.
He made the remarks during the signing ceremony between Germany and the EAC under which the former will commit 31.5 million euros for funding various projects in East Africa.
Dr Watcher said there were 80 giant German companies in Ghana and saw no reason why the same companies should not invest in EAC..
Three cooperation agreements were signed by the two sides yesterday at the EAC headquarters by the ambassador and the EAC secretary general, Mr Liberat Mfumukeko.
Two of the agreements will centre on financial cooperation with the German development bank (KfW) and one will be a technical cooperation agreement in collaboration with GIZ, a German international cooperation agency.
Some 13m Euros ($ 14.5m) will finance the joint programme dubbed 'Regional Network of Reference Laboratories for Communicable Diseases'. The programme supports EAC's efforts in pandemic preparedness and in fighting communicable diseases namely cholera, TB, meningitis, marburg, Ebola and others.
Another 5m Euros ($ 5.5 million) will be dedicated for the 'EAC Scholarsihip Programme' while some 13.5m Euros will finance projects under technical cooperation between the two sides.