Browsing: Financing EAC

How EAC is reaching new financing heights

Never in the history of the East African community has there been more funding than now, with the current funding for various social and infrastructural projects reaching US$3 Billion. Most of these funds have gone into inter-states projects as well as projects within a state having a regional impact.

The community has been able to achieve a tenfold increase in grants while still reducing internal expenses and costs by over 40 percent in the last four years.

Documents at our hands show that the EAC has been able to sign projects with different development agencies including Africa Development Bank, USAID, China, EU and Bill and Melinda Gates Foundation worth $547,454, 168.

These documents seem to agree with Amb Libérat Mfumukeko who has been pushing for an effective secretariat that is able to raise financing on key projects while at the same time cutting on costs. This, he has argued in …