Hivi Karibuni kuna baadhi ya wachangiaji walidai kwamba World Bank hawataki kutusikia na blah blah kibao. Lakini tofauti na kauli zao World Bank Vice President for Africa amekuja Bongo na sasa wanataka ku fast track mkopo kuja Bongo, kama ilivyoandikwa kwenye gazeti la Citizen la 26/01/2017.
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Talks between Tanzania and the World Bank are going on to secure $1,150 million (Sh2.5 trillion) for financing infrastructure projects.
The Bretton Woods Institution promised to provide loans for undertaking projects such as those on transport, water systems and energy generation and distribution facilities.
The minister for Finance and Planning, Dr Philip Mpango, said the funding will include $425 million (Sh1 trillion) for the second and third phases of the Dar es Salaam Bus Rapid Transit, $305 million (Sh800 billion) for expansion of the port of Dar es Salaam and at least $60 million (Sh140 billion) for the planned Ubungo interchange junction.
Other projects to be funded with their amounts in brackets are for improving the business environment ($80 million, Sh180 billion), for education ($100 million, Sh230 billion), for water projects in Dar es Salaam ($100 million) and for Budget management ($80 million).
The discussions between Dr Mpango and the World Bank’s Vice President for Africa Region, Dr Makhtar Diop, were held at the Treasury yesterday after the inauguration of the $403 million (Sh900 billion) first phase of the BRT.
Dr Diop was visiting Tanzania to attend the inauguration of BRT that was financed by the World Bank.
“The World Bank is our partner in developing infrastructure such as roads, railways, ports, water systems and power facilities. They have agreed to fast-track these finances to help Tanzania’s journey to industrialisation and facilitate the business environment,” said Dr Mpango who was accompanied by other Treasury officials.
The two sides also agreed to form a joint committee that will advise the kinds of reforms needed to improve the efficiency of the Tanzania Electric Supply Company (Tanesco).
Dr Diop expressed his optimism about Tanzania’s economic prospects but asked the government to pay special attention to agriculture, which was not growing at a faster pace like other sectors. He also allayed fears that the new US administration may threaten the African economies.
“It’s still early to judge the new US administration but I’m not expecting significant changes,” he said.
“But the most important point is that the regional blocs need to function as efficient as possible and make it easy for movement of goods and facilitate trade,” he said.
He said there were still challenges in the blocs like the non-tariff barriers and other obstacles,” he said.
Tanzania is working hard to improve its infrastructure such as the Dar es Salaam Port and the Central Railway Line which are important in facilitating trade and movement of goods through the central corridor of transport that links countries like the Democratic Republic of Congo, Rwanda, Burundi and Zambia.
In 2014, Tanzania signed a memorandum of understanding with the World Bank and other partners to facilitate the expansion of the Dar es Salaam Port at the cost of $600 million (Sh1.4 trillion).
However, Dr Diop revealed yesterday that his institution will fast-track the availability of $305 million for the first phase. Tanzania is also waiting for sovereign credit rating that will allow the country borrow from the international markets.
The permanent secretary in the Ministry of Finance and Planning, Mr Doto James, told The Citizen that Tanzania is now waiting for the rating from the rating agencies.
“We submitted all documents to our consultant City Group since last November. We are now waiting for them to respond,” he said.
He said Tanzania may borrow between $400 million and $700 million, depending on the timing of the Eurobond for the infrastructure projects. “We are not sure when this will be completed but we have played our part. We are waiting for their action,” added Mr James.
Source: The Citizen
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Talks between Tanzania and the World Bank are going on to secure $1,150 million (Sh2.5 trillion) for financing infrastructure projects.
The Bretton Woods Institution promised to provide loans for undertaking projects such as those on transport, water systems and energy generation and distribution facilities.
The minister for Finance and Planning, Dr Philip Mpango, said the funding will include $425 million (Sh1 trillion) for the second and third phases of the Dar es Salaam Bus Rapid Transit, $305 million (Sh800 billion) for expansion of the port of Dar es Salaam and at least $60 million (Sh140 billion) for the planned Ubungo interchange junction.
Other projects to be funded with their amounts in brackets are for improving the business environment ($80 million, Sh180 billion), for education ($100 million, Sh230 billion), for water projects in Dar es Salaam ($100 million) and for Budget management ($80 million).
The discussions between Dr Mpango and the World Bank’s Vice President for Africa Region, Dr Makhtar Diop, were held at the Treasury yesterday after the inauguration of the $403 million (Sh900 billion) first phase of the BRT.
Dr Diop was visiting Tanzania to attend the inauguration of BRT that was financed by the World Bank.
“The World Bank is our partner in developing infrastructure such as roads, railways, ports, water systems and power facilities. They have agreed to fast-track these finances to help Tanzania’s journey to industrialisation and facilitate the business environment,” said Dr Mpango who was accompanied by other Treasury officials.
The two sides also agreed to form a joint committee that will advise the kinds of reforms needed to improve the efficiency of the Tanzania Electric Supply Company (Tanesco).
Dr Diop expressed his optimism about Tanzania’s economic prospects but asked the government to pay special attention to agriculture, which was not growing at a faster pace like other sectors. He also allayed fears that the new US administration may threaten the African economies.
“It’s still early to judge the new US administration but I’m not expecting significant changes,” he said.
“But the most important point is that the regional blocs need to function as efficient as possible and make it easy for movement of goods and facilitate trade,” he said.
He said there were still challenges in the blocs like the non-tariff barriers and other obstacles,” he said.
Tanzania is working hard to improve its infrastructure such as the Dar es Salaam Port and the Central Railway Line which are important in facilitating trade and movement of goods through the central corridor of transport that links countries like the Democratic Republic of Congo, Rwanda, Burundi and Zambia.
In 2014, Tanzania signed a memorandum of understanding with the World Bank and other partners to facilitate the expansion of the Dar es Salaam Port at the cost of $600 million (Sh1.4 trillion).
However, Dr Diop revealed yesterday that his institution will fast-track the availability of $305 million for the first phase. Tanzania is also waiting for sovereign credit rating that will allow the country borrow from the international markets.
The permanent secretary in the Ministry of Finance and Planning, Mr Doto James, told The Citizen that Tanzania is now waiting for the rating from the rating agencies.
“We submitted all documents to our consultant City Group since last November. We are now waiting for them to respond,” he said.
He said Tanzania may borrow between $400 million and $700 million, depending on the timing of the Eurobond for the infrastructure projects. “We are not sure when this will be completed but we have played our part. We are waiting for their action,” added Mr James.
Source: The Citizen
