Regional financier East African Development Bank (EADB) and the Japan International Cooperation Agency (JICA), yesterday, signed a memorandum of understanding to support infrastructure development in the region.
The deal provides for collaboration between the two development institutions in identifying and financing projects to support economic and social development in the East African Community.
The partnership was signed by Eiji Inui, the JICA director general for Africa department and Vivienne Yeda, the EADB director general.
Speaking at the signing ceremony, Yeda said the co-operation will allow East African Development Bank to tap into JICA’s rich experience in international development for the benefit of the region.
“The exchange of information on regional infrastructure development is critical to the fulfillment of EADB’s mandate in the region,” she said.
Under the agreement, the two organisations plan to organise joint or multi-lateral actions on development issues through research and knowledge management, and collaborate in identification of projects in areas such as economic and social infrastructure development, as well as providing support to the private sector, education, health and poverty reduction efforts.
They will also work jointly to provide technical assistance on development projects, capacity building of the organisations through staff trainings, sharing of research and project and development experiences in East Africa; and collaboration on accelerating private sector activity through seminars and consultations.