East AFRITAC Steering Committee Welcomes the Center’s Contribution to Capacity Building in East Africa
The Steering Committee of the International Monetary Fund (IMF)’s East Africa Regional Technical Assistance Center (East AFRITAC) held its 20th meeting on March 19, 2018 in Dar es Salaam, Tanzania. The Committee welcomed the Center’s capacity development work to help member countries achieve their objectives to increase government revenues, improve spending efficiency, develop the financial sector, produce high-quality data to support policy making, and promote regional integration. Participants at the meeting included officials from Eritrea, Kenya, Malawi, Rwanda, Tanzania, and Uganda, and representatives from regional organizations (East African Community and the Common Market for Eastern and Southern Africa) and development partners (European Union, Germany, Netherlands, United Kingdom, and the European Investment Bank; and the World Bank as observer).
In her opening remarks, Dr. Monique Nsanzabaganwa, Deputy Governor of the National Bank of Rwanda and chairperson of the meeting, welcomed Germany and the European Investment Bank as new donors to East AFRITAC, as well as new financial contributions from the European Union, the United Kingdom, and the Netherlands. She noted that these contributions would allow the Center to continue providing capacity building support to its members. She also welcomed financial contributions from Eritrea, Malawi, Rwanda, and Uganda and encouraged other member countries to deliver their contributions as soon as possible.
Steering Committee members noted the high completion rate of the work plan for the fiscal year ending in April 2018 and commended the Center for the range and the quality of the support provided to its member countries. They recognized the capacity of the Center to adjust its plans to address changes in member countries’ circumstances and priorities. Steering Committee members also welcomed the increased integration of training and technical assistance, the efforts made to facilitate peer learning across the region, including through collaboration with other regional partners, and the implementation of results-based management at the Center and across the IMF. Steering Committee members encouraged continued outreach and coordination with development partners in the field.
The Committee discussed emerging capacity development needs in the region, such as how to deal with cyber-security risks and Fintech, and endorsed the work plan for next fiscal year (May 2018-April 2019). This work plan entails a significant increase in the level of activity, particularly in favor of domestic revenue mobilization, reflecting strong demand for support from member countries.
Background
The East Africa Regional Technical Assistance Center is hosted by the Tanzanian authorities in Dar es Salaam and works with Eritrea, Ethiopia, Kenya, Malawi, Rwanda, Tanzania, and Uganda. The European Union, the United Kingdom, the Netherlands, Germany, and Switzerland support the Center (soon to be joined by the European Investment Bank), alongside the IMF and member countries.
The IMF’s capacity development efforts are part of its core mandate and help governments modernize their economic policies and institutions. A global network of regional capacity development centers anchor IMF support for economic institution building and are complemented by global thematic funds for capacity development. They are financed jointly by the IMF, external development partners, and member countries.
