The European Union (EU) has through the European Development Fund (EDF 11) allocated the East African Community 85 million Euros for the 2016-2020 period, the EAC secretariat announced Monday.
In a statement, the EAC said the funds would be directed to three main areas – peace and security (€15 million), regional economic integration (€45 million) and natural resources (€25 million).
Out of the €45 million meant for regional economic integration, €15 million will be for the implementation of key protocols on the Customs Union, the Common Market, and the East African Monetary Union, while €30 million will be accessed by partner states to support trade related activities.
“This development came to light when EAC Secretary General Richard Sezibera met, in Dar es Salaam, with the EU Head of Delegation and Ambassador to Tanzania, Filiberto Ceriani Sebregondi,” the statement added .
