Regional financier, East African Development Bank (EADB), today signed a memorandum of understanding with the Japan International Cooperation Agency (JICA). The MOU provides for collaboration between the two development institutions in matters of common interest, including cooperation in identifying and financing projects to support economic and social development in the East African Community.
The MOU was signed by JICA’s Director General for Africa Department, Mr. Eiji Inui, and EADB Director General, Ms. Vivienne Yeda.
Speaking at the signing ceremony, Ms. Yeda said the cooperation will allow EADB to tap into JICA’s rich experience in international development for the benefit of the East African region.
“The exchange of information on regional infrastructure development is critical to the fulfilment of EADB’s mandate in the region,” said Ms. Yeda.
Under the MOU, the two organisations will organise joint or multi-lateral actions on development issues through seminars, research, and knowledge management and 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.
The East African Development Bank (EADB) was established in 1967 under the treaty of the then East African Cooperation. Its mandate and objectives were to foster industrial development, and to promote industrial complementarity and redress industrial imbalance among the then Partner States.
The Bank was re-established under a new Charter in 1980.
Under the new Charter, the Bank’s role and mandate was broadened and its operational scope expanded to include a broad range of financial services, in particular the provision of financing to agriculture, tourism and infrastructure, in addition to industry in the Member States with an overriding objective of strengthening socio-economic development and regional integration.
EADB is today owned by the four Member States namely Kenya, Uganda, Tanzania and Rwanda. Its membership also includes other international development institutions and commercial financial enterprises. Being an organ of the EAC and its partnership with EAC institutions has accorded it a platform to play a catalysing role in regional integration through the provision of development finance.
JICA is the implementing agency for Japan’s official Development Assistance (ODA) and is charged with the mandate to administer this ODA such as Development Loans, Grant Aid and Technical Cooperation in an integrated manner.
In accordance with its vision of “Inclusive and Dynamic Development”, JICA supports the resolution of issues of developing countries by using the most suitable tools of various assistance methods and a combined regional, country and issue oriented approach.
Advancing our activities revolves around the pillars of a field-oriented approach, human security, and enhanced effectiveness, efficiency, and speed.
JICA is one of the worlds’ largest bilateral aid agency and works in over 150 countries