The East African Community (EAC) needs a $4.1 billion investment to improve transportation in the region.
Alloys Mutabingwa, the EAC Deputy Secretary General in charge of Planning and Infrastructure, said the money will be used to develop the northern and central corridors.
“Senior officials, transport experts and private sector representatives from EAC partner states recently agreed on the need for $4.1 b investment to advance the region’s Northern and Central corridors,” he said.
The Northern Corridor, anchored by the port of Mombasa in Kenya and the Central Corridor, anchored by the port of Dar es Salaam in Tanzania are principal and crucial transport routes for national, regional and international trade for the EAC.
Mutabingwa noted that a study on facilitating trade along the corridors was also approved and will be used to source funding.
“The infrastructure sector is not known to many people as an area that requires huge investment, but now we have got a document to table before those who should provide funds,” he said.
Mutabingwa added that the funds will be used to upgrade ports and build international one-stop border posts among other projects.