Finance

USAID to provide East Africa $194 million to boost economic integration in the region

Tuesday, 22 November 2016 03:58

The United States Agency for International Development (USAID) will provide the East African Community (EAC) a five-year $194 million facility to foster economic integration and free movement of people and goods in the region.

The agreement for the facility was signed on November 17 at EAC's headquarters in Arusha, Tanzania, by the US embassy Charge d'Affaires in Tanzania, Virginia Blazer, the head of USAID’s mission to Kenya, Karen Freeman, and EAC's secretary general, Liberaït Mfumukeko.

Out of the $194 million facility, around $30 million will be used for institutional strengthening within EAC's secretariat while remainder will “support other development partners in their efforts to contribute to EAC's regional integration programme”.

The United States have decided to help improve access to health services in the neighbour-countries of the East African community while helping them better manage natural resources from the ecosystems of Lake Victoria's basin and those of the Mara river as well.

On the same topic
WAEMU foreign exchange reserves rose to about $33 billion by end-October 2025. Import cover increased to six months from 3.8 months in...
CardinalStone Capital Advisers plans to raise $120 million for its second SME-focused fund in West Africa. The International Finance...
CBK rates' cuts to 9.0%, is ending the 'rentier' era. Banks must now pivot from risk-free state bonds to private lending as inflation...
BNP Paribas entered exclusive preliminary talks with Holmarcom to sell its 67% stake in BMCI. Holmarcom already owns 2.41% of BMCI and acquired...
Most Read
01

Omer-Decugis & Cie acquired 100% of Côte d’Ivoire–based Vergers du Bandama. Vergers du Band...

Omer-Decugis & Cie Expands Mango Operations in West Africa
02

GSMA outlines reforms needed to meet targets of the New Technological Deal 2034 High mobile taxes...

GSMA Maps the Reforms Required for Senegal’s Digital Takeoff
03

M-Pesa accuses Ethio Telecom of blocking access to new Lehulum app App aims to offer unive...

M-Pesa Ethiopia Flags Access Issues on Regulator-Approved Lehulum App
04

This week’s health update shows Africa edging closer to the end of the mpox public health emergency,...

Weekly Health Update | Africa Steps Up Essential Medicines Strategy, Despite Outbreaks, Funding Gaps
05

Investment bank BCID-AES established  in Bamako Bank aims to fund infrastructure, agricultur...

Sahel Alliance Establishes Investment Bank, Key Financing Decisions Pending
Enter your email to receive our newsletter

Ecofin Agency provides daily coverage of nine key African economic sectors: public management, finance, telecoms, agribusiness, mining, energy, transport, communication, and education.
It also designs and manages specialized media, both online and print, for African institutions and publishers.

SALES & ADVERTISING

regie@agenceecofin.com 
Tél: +41 22 301 96 11 
Mob: +41 78 699 13 72


EDITORIAL
redaction@agenceecofin.com

More information
Team
Publisher

ECOFIN AGENCY

Mediamania Sarl
Rue du Léman, 6
1201 Geneva
Switzerland

 

Ecofin Agency is a sector-focused economic news agency, founded in December 2010. Its web platform was launched in June 2011. ©Mediamania.

 
 

Please publish modules in offcanvas position.