The East African Community (EAC) needs $78 billion in the next ten years to fund more than 200 infrastructure projects in the five member states.
The key projects to be funded include the Standard Gauge Railway (SGR), hydropower, oil and gas projects across the region, which together are to cost $62.2 billion.
Leaders from the EAC member states including Tanzania’s president John Magufului, Kenya’s Uhuru Kenyatta, South Sudan’s Salva Kiir were hosted by Uganda’s Yoweri Kaguta Museveni at the regional bloc’s Joint Heads of State Retreat on Infrastructure and Health Financing and Development.
The leaders agreed that the revenue will be internally and externally raised through borrowing and public private partnerships.
‘‘We owe it to ourselves and the future generations to ensure that this region has efficient, interlinked and interoperable infrastructure to enable our people increase their prosperity through the exchange of goods and services,’’ Museveni said in his opening remarks.
- Plan for 10 years
- $78 billion needed to fund infrastructure projects
- $62.2 billion to fund SGR, hydropower, oil and gas projects
- 17 infrastructure projects approved
- 9 health priority areas listed
- 7,000 kilometres of roads to be upgraded
The EAC Council of Ministers, which is the policy organ of the community, was directed to mobilize resources to support the implementation of the health sector investment priority projects.
Amaka E. Nliam