Bank pledges to boost EAC agriculture
EAC secretary general Liberat Mfumukeko speaks at the past event. Photo |File
What you need to know:
- AfDB director general for eastern Africa Gabriel Negatu says that food security and industrialisation projects are crucial in poverty alleviation efforts on the continent.
Arusha. The East African Community has turned to development partners as it seeks increased support for food security projects.
Early this week, EAC secretary general Liberat Mfumukeko reached out to the African Development Bank amid reports of severe drought and hunger in northern Kenya and perennial food shortages in South Sudan.
“It is now the turn for you to help us tackle food insecurity in our region,” he said.
He told the visiting AfDB director general for eastern Africa Gabriel Negatu that food security and industrialisation projects were crucial in poverty alleviation efforts.
“Agriculture and industrialisation meet our immediate needs because they can eradicate poverty through employment,” Ambassador Mfumukeko added.
He said during brief consultations that the EAC economies continued to be dominated by agriculture, employing 70 to 90 per cent of the population.
The industrial sector, another crucial segment of the EAC development strategy, was also in dire need of support from the pan African bank, the EAC chief noted.
“In order to exploit regional and international markets, the opportunity for industrial growth exists,” he said, noting that the EAC was currently reviewing its industrial strategy.
Mr Negatu pledged more support to agriculture and industrialisation for the EAC, saying the bloc was the fastest growing in Africa.
“I would like to request all the partner states to focus on the challenge of doing business in order to realise value of integration process,” he said.
For years, AfDB development support to EAC has mainly focused on transport infrastructure projects, specifically road construction and energy.
For instance, in October last year, the bank approved a massive $2.5 billion funding for the implementation of the infrastructure projects in the region.
The funding comes under the Regional Integration Strategy for Eastern Africa (RISP 2018-2022) and will go towards enhancing regional transport and ICT connectivity, regional energy infrastructure and water projects.
The package would also support projects aimed at accelerating implementation of the EAC single market and trade development, including tackling trade barriers.
Also roped in under the AfDB support is putting in place policy frameworks for industrialization and promotion of the bloc as a single investment destination.
