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AfricaMoney | August 23, 2017

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AfDB approves $7.5 mn grant to boost regional trade

AfDB approves $7.5 mn grant to boost regional trade

Mauritius, a member nation of both COMESA and SADC, is expected to receive a trade boost once the COMESA-EAC-SADC Tripartite Capacity Building Programme (TCBP) is implemented, for which the African Development Bank approved a grant of $7.5 million last week. (Image: www.photos.apo-opa.com)

The African Development Bank (AfDB) approved a grant of $7.5 million last week to finance the COMESA-EAC-SADC Tripartite Capacity Building Programme (TCBP).

Mauritius is a member nation of both COMESA (Common Market for Eastern and Southern Africa) and SADC (Southern African Development Community) and is expected to receive a trade boost once the capacity building plan is implemented.

Under the programme, technical assistance will be provided to the three Regional Economic Communities (RECs) and the 26 Tripartite Regional Member-Countries (RMCs) to promote intra-tripartite trade.

The rationale for the programme is to support intra-tripartite trade growth which will boost the economic welfare of over 587 million consumers in the 26 RMCs. These objectives are sought to be achieved by achieving free flow of goods and services, developing regional value chains, creating jobs and alleviating poverty.

The programme will contribute to institutional development and knowledge building, particularly trade policy analysis, industrial transformation, mutual recognition of sanitary standards as well as tripartite industrial capacity development.

Knowledge production and dissemination will be realized through skills training of public and private officials, advisors and consultants to beneficiary RECs. These will be supplemented by regional courses and workshops.

The proposed interventions are anchored in the bank’s strategy for 2013-2022 and will complement the implementation of the Regional Integration Strategy Papers for East and Southern Africa.

The programme will be implemented from 2013 -2016 at a total cost of $7.5 million to the African Development Bank.

Source: Company Website

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