- African Development Bank congratulated Tanzania for economic growth averaging seven per cent. The bank said will support more development projects including agriculture and infrastructure.
Dar es Salaam. The African Development Bank (AfDB) has reiterated its commitment to supporting Tanzania’s agriculture and infrastructure development projects hailing the East African country for its economic growth averaging at seven per cent.
The president of the multilateral development finance institution Dr Akinwumi Adesina who visited President John Magufuli on Wednesday May 15, 2019 said the bank will help in addressing market challenges facing the local produces.
Dr Adesina said the bank recently approved a loan for the construction of 110 kilometre Dodoma city outer ring-road, rehabilitation and/or replacement of existing drainage structures and the construction of new additional drainage structures.
The bank will also support the construction of Msalato International Airport in the capital.
He also congratulated Dr Magufuli for forging good relations with neighbouring Uganda, which has led to the two nations agreeing on 1,443 kilometre Hoima-Tanga oil pipeline project.
AfDB so far supports development projects worth Sh4.55 trillion in Tanzania and promised to participate in the ongoing construction of Standard Gauge Railway line especially from Isaka to Kigali.
On the other hand, Dr Magufuli assured the AfDB boss that Tanzania government will ensure the financial resources are channeled to intended projects.
He said the bank also agreed to finance construction of 359km road between Tabora and Mpanda; the second phase of the Bus Rapid Transit (BRT) from Kariakoo to Mbagala; and the 400Kv Sumbawanga-Mpanda-Kigoma- Nyakanazi power project.