Tanzania, Aug. 14 -- Arusha. The East African Community (EAC) has secured €39.8 million (about Sh121.4 billion) in new grant funding from Germany to boost regional trade, expand access to finance for small businesses and accelerate economic integration across the region.

The funding follows the conclusion of Development Cooperation Negotiations between the EAC and the Federal Republic of Germany at the EAC headquarters in Arusha.

The agreement comes as the regional bloc begins implementing its Seventh Development Strategy, which places greater emphasis on trade, investment, private-sector development and economic integration.

The EAC delegation was led by Secretary General Ambassador Stephen Mbundi, while the German delegation wa...