East African Community secures €4.5 million EU loan


The East African Community (EAC) has secured a €4.45 million ($6 million) loan from the European Union (EU) to bolster regional integration – including a monetary union, which the EAC members have committed to establish within the next 10 years.

The loan was signed at EAC headquarters in Arusha, Tanzania yesterday. It aims to increase member countries' capacity to implement central parts of the common project, including a custom union and a common market, as well as to improve the quality of reg

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