Sign In or Register | Thursday, December 9, 2021
AfricaTeam,   9/23/2021 3:49:21 PM Add AfricaTeam as a Friend   |  Send Message
Africa See Profile
Tanzania: African Development Fund Approves $116 Million Loan To Upgrade Southern Road Corridor

 The Bank’s loan represents 98.71% of the project cost; the government of Tanzania will provide the remaining 1.29% in funding
 
ABIDJAN, Ivory Coast, September 23, 2021/ -- The Board of Directors of the African Development Fund on Wednesday approved a loan of around $116 million to the Tanzanian government to upgrade a 160-km Mnivata-Newala-Masasi road corridor in the southern part of the country.

The Bank’s loan represents 98.71% of the project cost; the government of Tanzania will provide the remaining 1.29% in funding.

The project will upgrade the roadway, including the 84-meter Mwiti bridge, to bituminous standard. The works also have social components, including the provision of potable water, education and medical infrastructure, the establishment of cashew nut processing units, and extension of entrepreneurial training to women and youth.

 

The upgrade is expected to open up rural areas in the region and enhance the Mtwara Development Corridor, which links Mtwara Port and Mbamba Bay port on Lake Nyasa. Exporters, importers, small-scale cross-border traders, farmers, transporters are all expected to benefit.

“The periodic isolation of such a significant population worsens vulnerability and undermines social inclusion. Improved road connectivity would therefore build the resilience of the people and widen livelihood opportunities within the Mtwara Development Corridor and the surrounding districts,” Bank Director General for East Africa Nnenna Nwabufo said.

Overall, the five-year project will improve mobility and accessibility for about 1.1 million people in Mtwara, Tandahimba, Newala and Masasi districts and facilitate integration with neighbouring Mozambique, Malawi and Zambia.  

 

Currently, the districts of Tandahimba and Newala, with an estimated combined population of 509,000 people, are mostly cut off, while connection with the Mtwara port area for essential supplies is severely constrained during rainy seasons due to the state of the road.

The project will advance Tanzania’s current five-year Development Plan (2021-2026) and aligns with the Bank Group’s Country Strategy Paper (2021-2025) which emphasizes sustainable infrastructure for a competitive economy and an improved private sector business environment for job creation, as well as two High-5 strategic priorities: Integrate Africa and Improve the quality of life for the people of Africa.

At 30 June 2021, the Bank Group’s active portfolio in Tanzania comprised 22 operations (19 public and 3 private) with a total commitment of about $2.4 billion.

 

 


Distributed by APO Group on behalf of African Development Bank Group (AfDB).
 
Media Contact:
Kwasi Kpodo
Communication and External Relations Department
African Development Bank
email: w.kpodo@afdb.org
SOURCE
African Development Bank Group (AfDB)

Bookmark and Share Email Email to Friends Print Print
0
 
Facebook Twitter YouTube Instagram Linkedin African Music
Push
Post a New Story from your Account, then Vote for it Here by clicking Push

What's up
Under the Arab Africa Trade Bridges (AATB) Program, ITFC, Afreximbank, BADEA and ARSO to Organize a High-level Roundtable on the Harmonization Of Standards For Pharmaceutical Products And Medical Devices in Africa on The 17th November 2021
Comments (0)
Netrepreneurs: The Rise of Africa's Digital Lion; 8 August 2018 – 13:00-17:30; Linder Auditorium; Johannesburg, South Africa
Comments (0)
African Continental Free Trade Area:Creating Fiscal Space For Jobs and Economic Diversification Friday, May 11 - 15, 2018 Addis Ababa, Ethiopia
Comments (0)
The State of the Africa Region: Leveraging Innovation to Transform Agriculture and Energy April 21, 2018 MC C1-250 (MC Café), World Bank Group Headquarters
Comments (0)
Nairobi to Host the Regional Strategic Meeting of United Cities and Local Governments of Africa (UCLG Africa)
Comments (0)


Most Popular
Latest Forums
Latest Polls
Links
Tags
    Nigeria    Kenya    
South Africa    Ghana    
Egypt    Ethiopia    Zimbabwe    Uganda    Africa    
Tanzania    Kenya a Hot bed of Investments    Test    Pope Francis On Safari In Kenya    Malawi    The 28th African/Caribbean International Festival of Life (IFOL) in Conjunction with The 5th Annual Jerk    Sudan    The 2nd Pan-African Cultural Festival Photos    Tunisia    2010 World Cup Draw: Which Country Has the Hottest Fans?    
Site Map | Help | Send Feedback | Contact us | User Agreement | Privacy | About us
Copyright © 2020-2022 "Africa Updates" All rights reserved