GASABO - Officials from the East African Community (EAC) and several other local stakeholders Thursday embarked on consultations geared at establishing the EAC Development Fund (EACDF).

In the two-day workshop held at Prime Holdings, officials from the EAC secretariat together with a host of various Rwandan stakeholders looked at a final report that highlighted the rationale and scope of the work, among others.

Dr. Julius Tangus Rotich, the EAC’s Deputy Secretary General [Finance and Administration] and Charles Gasana, the Permanent Secretary of Rwanda’s Ministry of EAC Affairs officiated at the beginning of the event and stressed the fund and session’s importance.

"I have no doubt that this workshop is going to add value to what has been achieved so far,” Gasana stressed in his opening remarks, adding that it was indeed a unique effort since it was the first time the bloc had recognized the need to create a development fund to effectively back regional projects.

"It will be crucial in removing all the obstacles we see as a region, mobilize resources in a more sustainable and equitable way,” he added.

Accordingly, the fund when finally established will, among others, provide a framework for support, even from other donors, emphasized Gasana.

"We must think of how to empower the region’s development initiatives,” he said, pointing out that the Kigali workshop was the second round of meetings where consultants were presenting their findings on the matter after the first which was held in Nairobi some time back.

Dr. Rotich, in his initial remarks had also stressed the significance of the fund and the care taken to hold consultative workshops to the effect. 

"This is a very important workshop for the EAC, the country and all of you [Rwandans]. The development fund is a very important vehicle for us all,” he said, saying many levels had recognised the fund’s importance and given it a go-ahead but wanted, "a more independent view,” and hence the consultations.

He explained that they have been moving around the region getting views and this [Kigali event] was the fourth, after which they would head for Dar es Salaam, Tanzania.

"The development fund is not unique to the EAC. All the other regional groupings have it but we don’t just want to copy what they are doing,” he explained the need to customize, and have a better fitting model.

"Development partners are ready and willing to give support,” he added.

Accordingly, as set out in the terms of reference, once set up, the fund will have clear and equitable access and eligibility criteria for support, among others.

This entails things such as the submission of proposals that meet standard requirements of a specific fund, and the ability of the borrower to obtain financing from other sources on reasonable terms and conditions.

The desirability of avoiding a disproportionate amount of resources being used for the benefit of any particular member of the fund is also highlighted in the protocol, among others.

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