AfDB commits Sh350 billion to ongoing regional projects

PHOTO | FLE EAC Deputy Secretary-General for Planning and Infrastructure Dr Enos Bukuku during a past function. He has commended the pan African Bank for the excellent support the region continues to enjoy from it on projects and programmes.

What you need to know:

  • EAC Deputy Secretary-General (Planning and Infrastructure) Dr Enos Bukuku commended the pan African Bank for “the excellent support the region continues to enjoy from it on projects and programmes”.
  • Dr Bukuku urged AfDB to continue supporting EAC towards achieving regional development objectives, and appealed for support for the third EAC Heads of State Retreat on Infrastructural Development and Financing to be held in November. 

ARUSH, TANZANIA

The African Development Bank (AfDB) has committed $4.1 billion (Sh352 billion) for on-going projects in the East African Community bloc, it was observed on Saturday.

About 70 per cent (Sh249 billion) of the amount has been allocated to infrastructure, out of which 34 per cent (Sh86 billion) went to energy, while 45 per cent (Sh112 billion) and 15 per cent (Sh5.1 billion) will finance transport and water projects.

“The Bank’s current portfolio in EAC consists of 126 on-going projects with a total commitment value of $ 4.1 bn,” said AfDB lead policy expert Baboucarr Sarr.

He was speaking during the Second EAC/AfDB Technical Planning meeting to review the status of the implementation of projects financed by the Bank.

He told the meeting at the EAC headquarters in Arusha, Tanzania, that 30 per cent of the bank’s total commitment to the bloc has been allocated to agriculture and finance, among other sectors.

Mr Sarr commended the EAC “for moving towards deeper integration and making commendable strides in the quest to create a larger, more integrated and more diversified economic market”.

EAC Deputy Secretary-General (Planning and Infrastructure) Dr Enos Bukuku commended the pan African Bank for “the excellent support the region continues to enjoy from it on projects and programmes”.

REGIONAL INTERGRATION

He specifically cited roads, railway, maritime transport, customs, energy, One Stop Border Posts (OSBPs), ICT, education, gender and community development, civil aviation, airports and environment and natural resources.

He pointed out that more needs to be done in infrastructure, trade facilitation and policy harmonisation, as well as deepening regional and continental integration.

Dr Bukuku urged AfDB to continue supporting EAC towards achieving regional development objectives, and appealed for support for the third EAC Heads of State Retreat on Infrastructural Development and Financing to be held in November. 

The EAC team updated the Bank on the performance of the projects and programmes under implementation as well as broader issues on cooperation agreement between the Bank and the EAC.