STATEMENT BY THE HEADS OF STATE OF KENYA, UGANDA, ETHIOPIA

AND SOUTH SUDAN ON THE LAMU PORT SOUTHERN SUDAN-ETHIOPIA

TRANSPORT (LAPSSET) CORRIDOR PROJECT

Today, we held a Summit of Heads of State and Government at State House,
Nairobi to explore joint fnancing options for the amu !ort Southern Sudan"
#thiopia Transport $%!SS#T& 'orridor !roject( ) was joined by H(#( *oweri
+aguta ,useveni, !resident of the -epublic of .ganda/ H(#( Hailemariam
0esalegn, !rime ,inister of the 1ederal 0emocratic -epublic of #thiopia/ and
H(#( Salva +iir ,ayardit, !resident of the -epublic of South Sudan(

2ur meeting was the latest chapter in a deepening integration agenda that is
focused on opening up the region to trade and investment and ensuring that its
enterprises are globally competitive( %!SS#T is an integrated and
transformative infrastructure project that will provide regional economic
integration and interconnectivity that generates the investment and trade
3ows that are so crucial to ensuring that the region is able to deliver the shared
prosperity that is the 4ey to decent livelihoods and sustained peace and
security(

The seven project components of the project re5uire an estimated budget of
678(9 :illion $+shs( 7 Trillion&( amu !ort alone with its ;7 projected berths
alone will cost 6;(< :illion(

=ith the large sums involved, it was clear to us that a joint approach that is
innovative will be re5uired for implementation( %t length, we explored the
complexities of shortening the period between project conceptuali>ation and
the reali>ation of a sustainable fnancial model that will deliver implementation(
=e sought to learn from the %frican 0evelopment :an4?s %frica9@
)nfrastructure 1und approach, and how our joint eAorts can help ma4e a
compelling business case to private sector players(

2ur discussion was especially informed by the upcoming %frica".S% Summit on
8"B %ugust 7@<8 that will allow the leaders a chance to engage with %merican
investors on this project( This being a continuation of similar engagements that
are being held with investors from across the ,iddle #ast and the )ndian 2cean
-im(

=e brie3y dwelt on the critical necessity of regional peace and security to
provide the conditions in which this and other projects will deliver the full
benefts of growth and e5uity to a region hungry for progress(
Than4 you(