The East African Community or EAC on Wednesday presented 2019/2020 budget estimates of111 million US Dollars to the Legislative Assembly, a week after Partner States presented their respective financial plans.
Tanzania Deputy Minister for Foreign and East African Affairs Dr Damas Ndumbaro, presented the budget under the theme: ‘Transforming lives through Industrialization and Job Creation for shared prosperity’.
According to the Council of Ministers, the priority interventions for 2019/2020 will focus on the consolidation of the Single Customs Territory and promotion of intra and extra EAC trade and export competitiveness.
Other areas include the implementation of the roadmap to the EAC Monetary union, institutional transformation and improvement of performance management at the EAC institutions.
EAC Secretariat will be allocated 53 million Dollars, Assembly is to get 18 million and the East African Court of Justice gets 4,225,241.
The Inter-University Council for East Africa shall receive 9.5 million dollars, Lake Victoria Basin Commission is allocated 13 million and 4,061,145 is earmarked for Lake Victoria Fisheries Organization.
The 2019/2020 Budget is to be financed by Partner State contributions through the Ministries, Development Partners, member Universities and General Reserve shall contribute.
Other key areas include promotion of peace, security and good governance and the constitution making process for the EAC political confederation.