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Wednesday, 01 June 2011

COMESA-EAC sign implementation agreement framework under 10th EDF

The COMESA Secretary General Sindiso Ngwenya and the newly appointed Secretary General of the East African Community Dr Richard Sezibera signed an implementation agreement under the EDF 10. The Implementation Agreement signed between COMESA and EAC defines the legal framework of cooperation between the two parties in the joint implementation of the Regional Integration Support Programme (RISP) continuation, often referred to as RISP2. The programme is financed through a contribution agreement signed between COMESA and the European Union (EU) under the 10th EDF. Under EDF10, COMESA, EAC, the Intergovernmental Authority on Development (IGAD) and IOC have a total envelope of euro 50 million, with 10 million of it earmarked for the North-south corridor. The amount is for the period starting from 1 July 2010 to 30 June 2013.Disbursements will be based on approved annual work plans. COMESA has a contribution agreement with EU where by COMESA gets money in advance and uses its procedures to implement agreed programmes as well as for accountability purpose. COMESA is the only regional organization on the African continent with such arrangements with the EU. The EU assistance comes mainly through the EDF RSP/RIP allocations. The four partner organizations (COMESA, EAC, IGAD and IOC) have put in place an Interregional Coordinating Committee (IRCC) coordination mechanism through which they jointly implement EC funded projects.

Source: COMESA