Busia Governor Sospeter Ojaamong has assented to the Lake Region Economic Bloc Bill, thus ratifying the formation of LREB.
The Governor appended his signature on the document; a day after Members of the County Assembly of Busia unanimously passed the Bill.
“I have today assented to The Busia Lake Region Economic Bloc Bill, 2018 and I congratulate the members for passing the Bill within the shortest time possible,” he said on Saturday.
Busia became the sixth County to pass the LREB Bill after Kisumu, Kisii, Migori, Kakamega and Nyamira.
The passing of the Bill was crucial to the region since there are many partners who are willing to fund the bloc to enable it achieve its economic agenda.
This now enables LREB to be legally established and making it the first legally instituted regional bloc in the country.
LREB has brought together 14 counties bordering the Lake. Others are Bomet, Bungoma, Homa Bay, Kericho, Nandi, Siaya, Trans Nzoia and Vihiga.
The bloc hopes to leverage on the economies of scale in the Lake region, facilitating access to wider markets locally and internationally, enhancing food security, pursuing joint pubic investments, economic growth and to consolidate cooperation.
Top on the Bloc’s agenda is the establishment of a Regional Bank and expansion of regional infrastructure with particular interest being the expansion of the inter-county road network and maritime transport across Lake Victoria.
Speaking during the Fish harvest at Mulukoba Beach, MCAs from Bunyala sub county agriculture which is the county’s economic pillar should be given enough funding to justify its position in the LREB Region.