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Wednesday, 02 December 2009

Comesa countries get $946 million for trade

The European Union is giving a total of 653 million Euros to the Common Market for Eastern and Southern Africa (Comesa) member countries to finance projects that will help them to develop capacity in trade with other countries.The funds are to benefit companies investing in warehouse receipt systems, road construction, agriculture improvement projects and government departments among other things. It is aimed at developing the least developed countries' capacity to trade. It includes support to building new infrastructure, improving ports or customs facilities and assistance in helping factories meet European health and safety standards for imports, according to the European Union Operations Officer on Trade and Regional Integration in Uganda Alex Nakajjo. He said Uganda will in addition get 439 million Euros while the all the member states of the Comesa states will get 635 million Euros for projects to be implemented in the next five years.

Source: AllAfrica