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EADB to Work With Japanese On Funding

September 1, 2014

The East African Development Bank (EADB), last week signed a Memorandum of Understanding with the Japan International Cooperation Agency (JICA) writes JOHN SAMBO.

Although no financial outlays were mentioned, the deal spells out areas in which the two will cooperate closely. Basically they agreed to identify and finance projects to support economic and social development in the East African Community.

The EADB Director General, Vivienne Yeda said, "The exchange of information on regional infrastructure development is critical to the fulfilment of EADB's mandate in the region."

Eiji Inui signed on behalf on JICA as the Director General for the Africa Department.

According to a press release, the two organisations will organise joint or multi-lateral actions on development issues through seminars, research, and knowledge management.

They will also collaborate in identification of projects in such areas as economic and social infrastructure development, private sector development, education, health, poverty reduction, and other areas as may be agreed upon between the Parties from time to time.

Other areas include joint technical assistance on development projects, collaboration in capacity building of each organization, including staff training, sharing of research, project and development experiences in East Africa; and collaboration on accelerating private sector activity through seminars and consultation.

The MOU, however, does not represent any definitive commitment with regard to funding on the part of either Party. Instead, any such commitment will be reflected in separate agreements that may be entered into by EADB and JICA under the MOU.

According to its latest financial results the EADB portfolio size and quality has improved in line with the Medium Term Strategic Plan 2011-2015.

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Source: AllAfrica

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