A main boulevard in Bujumbura city. The IMF has approved immediate
disbursement of $6.9 million to Burundi after a review of the country’s
economic performance. PHOTO | FILE |
NATION MEDIA GROUP
By Dorothy Nakawees
Kampala
The East African Community Council of Ministers
has adopted a $110.6 million (about Shs322 billion) regional budget for
the financial year 2015/16.
This budget has been cut by 13.6 per cent from
$125 million (about Shs394 billion) which was allocated in the financial
year 2014/15.
While speaking at the 31st extra-ordinary meeting
in Bujumbura, Burundi last Friday, Tanzania’s minister of East African
Cooperation Harrison Mwakyembe said: “This budget is to enable the
Secretariat plus other nine regional organisation to discharge their
mandate for the Financial Year 2015/2016.”
The council referred the adopted Budget Estimates
to the East African Legislative Assembly (EALA) for debate and approval.
It also directed each Partner State to contribute $8.3 million (Shs24
billion) towards the main EAC Budget for financial year 2015/2016.
Similarly, each partner state is to also contribute $824,445.60 (about
Shs2.4 billion) towards the Inter-University Council of East Africa.
Kenya, Uganda and Tanzania are expected to
contribute $518,069 (about Shs1.5 billion) each, towards the Lake
Victoria Fisheries Organisation’s next budget. The Council directed the
Secretariat to fund the budget increase amounting to $3.9 million (about
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