AfDB Allocates $2.5 Billion for Infrastructure Initiatives in Tanzania

Key Takeaways

AfDB pledges $2.5 billion for infrastructure.
Investment targets priority projects in Tanzania.
Key project includes the 400-km Tanzania-Kenya road.
Funding conditional on efficient project implementation.
Infrastructure development vital for regional trade.

Dar es Salaam, Feb 7 (NationPress) The African Development Bank (AfDB) has pledged $2.5 billion towards the advancement of essential infrastructure projects in Tanzania, as reported by the East African Community (EAC).

Mumina Wa-Kyendo, the AfDB’s chief transport engineer in Tanzania, stated that the allocated funds will support projects including the Tanzanian section of the 400-km Tanzania-Kenya road, which connects Bagamoyo, Pangani, Tanga, Horohoro/Lunga Lunga, Mombasa, and Malindi.

This road, currently under construction in both nations, is part of the Coastal Transport Corridor of East Africa, extending from Lamu in Kenya to Mtwara in Tanzania.

Wa-Kyendo shared insights about the funding during a recent visit in Tanga, concluding a two-day inspection and oversight mission of the Bagamoyo-Pangani-Tanga road segment, which involved experts from the EAC secretariat, Tanzania's Ministries of Transport and Works, Kenya's Ministry of Roads and Infrastructure, the Northern Corridor Transit and Transport Coordination Authority, and the Central Corridor Transit Transport Facilitation Agency, as per an EAC statement.

He emphasized that the development of transport infrastructure is crucial for facilitating trade and fostering the integration of countries. “We require a region where transport is efficient, with roads and railways built to the highest standards,” he remarked.

The funding from AfDB is contingent upon the effective implementation of projects, which is essential for unlocking further financial support, as noted by Wa-Kyendo in a statement reported by Xinhua news agency.

The African Development Bank Group is a multilateral development finance institution based in Abidjan, Ivory Coast, since September 2014. The AfDB serves as a financial source for African governments and private enterprises investing in regional member nations.

Its mission is to promote sustainable economic development and social progress in the African countries that form the AfDB’s Regional Member Countries (RMCs).