Comesa grants Kenya Sh236m for regional integration
Treasury Cabinet Secretary Henry Rotich during the signing of bilateral agreements with Korea at the National Treasury on July 8, 2014. PHOTO | DIANA NGILA | NATION
What you need to know:
- The fund is expected to help Kenya improve its business environment and bring changes in the transit-transport sector.
- Comesa stated that previous funds granted to Kenya had already contributed to the elimination of non-tariff barriers that hinder trade.
Kenya will access Sh236 million (€2 million) to support regional integration programmes under Common Markets for Eastern and Southern Africa (Comesa).
The fund will also support domestication and implementation of regional commitments at the national level.
National Treasury Cabinet Secretary Mr Henry Rotich and the Comesa Secretary General Mr Sindiso Ngwenya on Monday signed an agreement for the release of the fund.
In a statement, Comesa stated that previous funds granted to Kenya has already contributed to the elimination of non-tariff barriers that hinder trade.
BUSINESS ENVIRONMENT
“In an effort to enhance regional integration, Kenya restructured the government institutional structure, pooling together departments implementing regional integration programmes and institutionalised wide stakeholder participation in policy and implementation of regional commitments,” the statement read.
The fund is expected to help Kenya improve its business environment and bring changes in the transit-transport sector.
“The country expects to improve its business environment by ensuring that the transit transport facilitation instruments such as vehicle dimensions and axle load limits are configured in line with Comesa and the East African Community,” the statement read.
An additional indicative amount of €4,730,805 (Sh558 million) will be given to Kenya under the Adjustment Facility for the next two years and will be disbursed based on progress under the regional integration framework of the Comesa and EAC region.
