EAC AND NORWAY SIGN AGREEMENT FOR $5 MILLION

 Grant to support regional integration initiatives,

The EAC and  have signed a financial grant agreement worth 30 million Norwegian Krone (approximately US $5.3 million) for the period 2012 to 2014.

EAC Secretary General Amb. Dr. Richard Sezibera and Norway’s Ambassador to the United Republic of Tanzania with an accreditation to the Community, Her Excellency Ms. Ingunn Klepsvik, signed on behalf of EAC and Norway respectively.

The funds, disbursed through the EAC’s basket fund mechanism known as the Partnership Fund, will support initiatives to enhance regional integration and socio-economic development of the EAC.

A press release from EAC communication department suggested stated  that  the funds will be used to support the implementation of the EAC Development Strategy and provide technical assistance to the Community.

It further elaborated that the grant will support institutional and human resource capacity building for the EAC and support key studies required to support regional integration as well as implementation of the study findings.

According to the agreement, an initial disbursement of 10 million Norwegian Krone (approximately US $1.8 million) will now be made by Norway’s Ministry of Foreign Affairs.

Norway is one of the founding members and a contributor to the EAC Partnership Fund

Also present at the signing ceremony was the head of the resource mobilization unit at the EAC, Dr. James Njagu