East Africa: Regional Council, European Bank Discuss Infrastructure Funding
12 September 2012
AllAfrica.com (The New Times): As a way of unravelling infrastructural challenges that have remained a major obstacle to the integration process, the EAC Secretariat has turned to Europe seeking funding for regional infrastructural projects.
The EAC Secretary General, Dr Richard Sezibera, Monday held talks with top officials of the European Investment Bank (EIB), in Luxembourg City, with financing regional infrastructural projects top on the agenda.
The EIB operates under the auspices of the European Union, which brings together all the 27 EU member states.
The bank's delegation that met with Sezibera was headed by Yves de Rosée, Head of the EU Africa Infrastructure Trust Fund Secretariat.
Regional projects that need funding are the Kenya-South Sudan road link, Lake Victoria safety and navigation project, energy interconnectors for the regional power pool, and Burundi control tower and other projects are estimated to cost $175 million.