Mombasa among ports to benefit from Sh108bn World Bank project

From left: Cabinet secretaries Phyllis Kandie, Rachael Omamo and Michael Kamau follow the proceedings at the East Africa Community Heads of State Retreat summit on infrastructure development and financing held at Kenyatta International Convention Centre, Nairobi, at the weekend. JEFF ANGOTE | NATION MEDIA GROUP 

In Summary

• He added:  “We are partnering with EAC governments, other development partners and the private sector to invest in regional infrastructure and help deepen policy integration and reduction of barriers to trade.”
• The retreat on infrastructure development and finance focused on policies and reforms necessary to strengthen regional integration through enhanced efficiency of infrastructure investment and financing.

By OUMA WANZALA
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Mombasa is among three ports in East Africa earmarked for further investment by the World Bank to enhance capacity and efficiency.

World Bank Country Director for Burundi, Tanzania and Uganda, Mr Philippe Dongier, said lakes Victoria and Tanganyika would also benefit from investments aimed at reviving the region’s inland waterways.

“We will invest in specific transport links to better connect landlocked countries (Burundi, Rwanda, Uganda and South Sudan) to the Northern and Central corridors to improve these countries’ access to the ports of Mombasa and Dar-es-Salaam,” said Mr Dongier during the EAC Heads of State Retreat in Nairobi at the weekend.

IMPROVE COMPETITIVENESS

Mr Dongier said the bank would provide Sh108 billion ($1.2 billion) to support the initiative and improve the region’s competitiveness.

The bank would also provide additional resources for regional infrastructure through market-driven private sector financing and guarantees, he added.

“The financing will contribute to EAC states’ planned investments in the next three to seven years. This support is additional to large ongoing individual country programmes,”  he said.

He added:  “We are partnering with EAC governments, other development partners and the private sector to invest in regional infrastructure and help deepen policy integration and reduction of barriers to trade.”

The retreat on infrastructure development and finance focused on policies and reforms necessary to strengthen regional integration through enhanced efficiency of infrastructure investment and financing.

“Working with private sector partners, IFC is already investing more than Sh90 billion ($1.0 billion) annually in sub-Saharan African infrastructure to spur economic growth and improve living standards,” said Mr Oumar Seydi, IFC director for Eastern and Southern Africa.

He said IFC would do more to support ports, power, rail, transport and other key infrastructure projects in the East African Community.

The retreat was officially opened by Deputy President William Ruto and was to be followed by a Heads of State Summit Sunday.

Participants include the EAC Heads of State or their representatives, ministers, chief executives of development banks and regional economic communities, high commissioners, ambassadors and private sector leaders.