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Thursday April 26, 2018
The Guardian Reporter
News
The Guardian
AfDB set to pump in $1.5 billion more for Tanzania’s development
THE African Development Bank (AfDB) is set to inject $1.5 billion into various development projects in the next two years, the bank’s president Dr Akinwumi Adesina announced yesterday.
Speaking at Dar es Salaam’s Julius Nyerere International Airport (JNIA) on arrival for a working visit to the country, Dr Adesina said ongoing projects financed by the bank are worth $2 billion in the areas of infrastructure, energy, agriculture, water and sanitation.
“We at AfDB are very proud of our relationship with the United Republic of Tanzania which dates back to 1971. The bank has so far invested a total of $2.6 billion in the country in grants and aid,” he said.
He explained that the bank has invested $.1 billion in infrastructure development alone, the aim being to improve transportation in the country and hence spur economic growth.
In the energy sector, AfDB has pumped in $220 million for a 400KV electricity transmission line measuring 670 kilometres in the southern and western parts of Tanzania, he said.
“These projects will complement the efforts of President Magufuli who is working hard to turn Tanzania into an industrialized economy,” Dr Adesina noted.
He added that AfDB also plans to help transform the Tanzania Electric Supply Company (TANESCO) into an efficient and profitable firm capable of producing and distributing electricity at a reasonable price.
Finance and Planning minister Dr Philip Mpango, who received Dr Adesina at the airport, described AfDB as Tanzania’s true partner in development.
Dr Adesina is in the country at the invitation of President Magufuli, and is scheduled to deliver remarks at this year’s national Union commemoration event at the Jamhuri Stadium in Dodoma today.
Tomorrow he is scheduled to open the Dodoma-Babati road project co-financed by AfDB and the Japan International Cooperation Agency (JICA), according to statements released by both the bank and State House in Dar es Salaam.
The Dodoma-Babati road is part of the country’s Road Sector Support Project for which AfDB released a loan of $216.87 million (over 400 billion/-) in 2012. The project covering 390 kilometres also involved upgrading and construction work on the Tunduru-Mangaka and Mangaka-Mtambaswala strategic roads in the southern part of the country.
The Dodoma-Babati road is regarded as an important part of the national road network, and also links Tanzania to the neighbouring countries of Zambia in the south and Kenya in the north, and beyond.
Upon completion of his Tanzania itinerary, Dr Adesina and his delegation are set to proceed to Kigali, Rwanda, to participate in the Ibrahim Governance Forum this coming weekend.
The Guardian Reporter
News
The Guardian
AfDB set to pump in $1.5 billion more for Tanzania’s development
THE African Development Bank (AfDB) is set to inject $1.5 billion into various development projects in the next two years, the bank’s president Dr Akinwumi Adesina announced yesterday.
Speaking at Dar es Salaam’s Julius Nyerere International Airport (JNIA) on arrival for a working visit to the country, Dr Adesina said ongoing projects financed by the bank are worth $2 billion in the areas of infrastructure, energy, agriculture, water and sanitation.
“We at AfDB are very proud of our relationship with the United Republic of Tanzania which dates back to 1971. The bank has so far invested a total of $2.6 billion in the country in grants and aid,” he said.
He explained that the bank has invested $.1 billion in infrastructure development alone, the aim being to improve transportation in the country and hence spur economic growth.
In the energy sector, AfDB has pumped in $220 million for a 400KV electricity transmission line measuring 670 kilometres in the southern and western parts of Tanzania, he said.
“These projects will complement the efforts of President Magufuli who is working hard to turn Tanzania into an industrialized economy,” Dr Adesina noted.
He added that AfDB also plans to help transform the Tanzania Electric Supply Company (TANESCO) into an efficient and profitable firm capable of producing and distributing electricity at a reasonable price.
Finance and Planning minister Dr Philip Mpango, who received Dr Adesina at the airport, described AfDB as Tanzania’s true partner in development.
Dr Adesina is in the country at the invitation of President Magufuli, and is scheduled to deliver remarks at this year’s national Union commemoration event at the Jamhuri Stadium in Dodoma today.
Tomorrow he is scheduled to open the Dodoma-Babati road project co-financed by AfDB and the Japan International Cooperation Agency (JICA), according to statements released by both the bank and State House in Dar es Salaam.
The Dodoma-Babati road is part of the country’s Road Sector Support Project for which AfDB released a loan of $216.87 million (over 400 billion/-) in 2012. The project covering 390 kilometres also involved upgrading and construction work on the Tunduru-Mangaka and Mangaka-Mtambaswala strategic roads in the southern part of the country.
The Dodoma-Babati road is regarded as an important part of the national road network, and also links Tanzania to the neighbouring countries of Zambia in the south and Kenya in the north, and beyond.
Upon completion of his Tanzania itinerary, Dr Adesina and his delegation are set to proceed to Kigali, Rwanda, to participate in the Ibrahim Governance Forum this coming weekend.
