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World Bank approves $59 mln infrastructure loan for Tanzania

Discussion in 'Biashara, Uchumi na Ujasiriamali' started by nngu007, Jul 6, 2011.

  1. nngu007

    nngu007 JF-Expert Member

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    Fri Jul 1, 2011 1:15pm GMT
    DAR ES SALAAM, July 1 (Reuters) - The World Bank said on Friday it has approved additional financing of $59 million to support the improvement of Tanzania's transport infrastructure.

    The latest loan is in addition to an initial $270 million approved by the bank in May 2010 for Tanzania's Transport Sector Support Project (TSSP).

    "We are pleased to continue supporting the transport sector, which remains an impediment to accelerating growth and welfare improvement in Tanzania," John Murray McIntire, World Bank Country Director for Tanzania, Uganda and Burundi, said in a statement.

    The additional loan will help finance the expansion and rehabilitation of the Zanzibar airport and natural gas transportation infrastructure in southern Tanzania.

    Tanzania is among the continent's biggest per capita aid recipients.
    (Reporting by Fumbuka Ng'wanakilala; Editing by George Obulutsa)
    (For more Reuters Africa coverage and to have your say on the top issues)
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    arigold JF-Expert Member

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