Project Detail |
The Bank proposes to support the implementation of the proposed project through a FAPA grant and reiterates the projects transformational impact in catalyzing industrialization in the EAC region through promoting the private sector. The proposal is aligned with the Bank Group’s Strategic Priorities “Industrialize Africa” and “Integrate Africa” High-5s as well as the EA-RISP (2023-2027), strategic objectives that include acceleration of structural transformation. Under priority area 2, the EA-RISP, prioritizes both the development of RVCs and facilitating trade which are at the core of the project proposal. The project aligns with the EAC region’s vision 2050 that identifies industrialization as one of the Pillars. Project Objectives The goal of this project is to support and facilitate sustainable and inclusive private sector led industrialization in the East African Community (EAC). This will be achieved by supporting improvements of the business and investment climate necessary for the development of priority value chains. The project will strengthen the private sector in the EAC region by addressing competitiveness and production challenges that hinder access to the African Continental Free Trade Area (AfCFTA) which is the target market for the EAC Partner States. The project’s general objective is cluster development for edible oils, leather and textiles value chains through technical assistance and capacity support to raise regional competitiveness while increasing their respective contribution to the sustainable and inclusive industrialization of the EAC region. Beneficiaries As the recipient of the grant, the EABC will benefit directly. The private sector too will benefit directly through targeted activities and indirectly through implementation of activities by the EABC Secretariat. Other indirect beneficiaries will be the EAC Partner States and the peoples of East Africa who will benefit through spillovers of improved value chain activities, growth in the economy and job creation by the private sector. |