[/FONT Mimi napenda ona inchi yangu ikifanya jitihada kujiendeleza, lakini hii issue inatisha maanake the potential for mafisadi ni limitless, waungwana mwasemaje? ]THE government has said that it remains determined to issue sovereign bonds in international markets to raise between 500 million and 1 billion US dollars (700bn/- to 1.4trn/-) for infrastructure projects. According to Bank of Tanzania (BoT) Governor Benno Ndulu, the government expects to float the bonds in the next seven to eight months. "The (bond issuance) process is well in progress and we will hopefully float the bonds early in the next fiscal year," Professor Ndulu told reporters at the sidelines of the Economist Tanzania Summit in Dar es Salaam on Tuesday. The government had formed a committee of highly skilled financial experts, under the tutelage of the central bank, to fast-track the issuing of sovereign bonds in international markets. Earlier plans to sell the country's first sovereign bond in 2008 however were put on hold following the global financial crisis that hiked borrowing costs. Some development partners, the World Bank in particular, stand opposed to Tanzania pursuance of the sovereign bond option, which they perceive as costly for the poor economy. They instead urge the government to pursue traditional options of concessional loans and grants from development partners. The 'Daily News' recently quoted the World Bank Country Director for Tanzania, Uganda and Burundi, Mr John McIntire as saying, "Tanzania can go ahead and issue the sovereign bond if it so wishes, but the option is costly because the bond has to be issued on market rates." But, the government has always maintained that much as it eagerly sought loans at friendly terms, the traditional system had own limitations. The funds to be accrued from the bond issuance will be exclusively invested on long-term development projects like construction of big bridges, railways and roads.