East African Development Bank (EADB) Support Project
- Reference: P-Z1-HAA-009
- Approval date: 17/12/2003
- Start date: 29/12/2004
- Appraisal Date: 31/07/2003
- Status: OngoingOnGo
- Implementing Agency: EAST AFRICAN DEVELOPMENT BANK
- Location: Kenya, Tanzania and Uganda
: The 7th EADB LOC component of US$ 40 million (UA30 million) from ADB resources, and a Grant component for UA 0.9 million from ADF resources that together constitute the EADB Support Project were approved by the Bank's Board of Directors on 17 December 2003. The LOC agreement and Grant protocol were signed in April 2004 and became effective on 19 December 2004 and proceeds from the LOC were to be utilized for financing goods and services required for the implementation of eligible sub-projects which were consistent with the development programs of the Government of the domicile country. ..
: The objective of the project is to assist economic development and industrial growth in the member countries of the East African Community through the EADB. ..
The LOC is to facilitate stronger economic integration within the East African sub-region through funding regional projects especially in infrastructure e.g. energy, and telecommunication facilities. It is also aimed at helping in saving significant amounts of foreign exchange through import substitution and generating employment opportunities. ..
The LOC has supported socio-economic growth in the region that has led to increase in jobs creation, sustainability of existing ones and higher income, and thus a significant positive impact on poverty reduction. Most of the funded sub-projects are in the agro-processing and manufacturing sectors and are mainly resource based. The LOC has thus helped to develop market outlets to the produce of the local economies, and provide income to the local communities, mostly small scale farmers.
BYARUHANGA Mpanga Juliet - OPSD4