East African Community contemplates joint recovery ventures from effects of Covid-19

East African Community contemplates joint recovery ventures from effects of Covid-19

The East African Community is contemplating a joint recovery from the severe impacts of the deadly coronavirus.

This joint recovery venture is aimed at seeing to it that East African Community economies are in position to rebuild and recover from the impacts of the pandemic through a cooperation amongst them.

Mr. Juvenal Ndimurirwo the director of finance at the EAC Secretariat said the above aim during a recent virtual meeting in which he went on to give a bit of detail about the yet to be implemented plan.

According to him, the strategy is meant to be handled by the East African Community sectoral council of ministers particularly, ministers that are in charge of sectors such as trade, investment and industry.

Furthermore, he said that their plan shall be launched in the second half of this year and it aims at addressing both short and medium term negative impacts of coronavirus disease on regional trade and businesses.

“The plan might be unveiled in the second half of this year and is expected to address short and medium term negative impact of COVID-19 on trade and business in the region,” Ndimurirwo said during the 2021/22 Financial year budget analysis..

Members of the East African Community that are most likely to benefit from the plan include Uganda, Kenya, Tanzania, Rwanda, Burundi and South Sudan.

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Mr. Ndimurirwo also noted that there’s lacy of a unified way to test Covid-19 across the borders of the East African Community and this results into non-tariff barriers in the flow of both people and goods across the borders.

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