The African Development Bank (AfDB) will focus on funding the construction of residential houses, development of agriculture and other economically viable areas in Tanzania during 2017.
This was announced by Frannie Leautier, Vice President of AfDB, during a meeting with the Tanzanian President, John Magufuli on July 26th 2016.
According to Leautier, Tanzania is expected to benefit from AfDB’s 5 priority areas, which include energy, industrialization, integration, food security and livelihood improvement.Additionally, she noted that Tanzania is AfDB’s largest recipient of loans in Africa and that the Bank will continue to support the country through the provision of soft loans for development.
Tonia Kandiero, Resident Representative in Tanzania of the AfDB, said in a recent interview with TanzaniaInvest: “Tanzania is important to AfDB just like AfDB is important to Tanzania. The Partnership started since 1971, and Tanzania has remained committed as a key Regional Member country since then, while the Bank has also been with the Country all the way as a trusted partner. Also, Tanzania is one of the key champions of regional integration which the Bank continues to support strongly.”
AfDB will also provide USD4m to improve the Nelson Mandela African Institute of Science and Technology (NM-AIST) based in Arusha, Tanzania.
AfDB in Tanzania
As of 30th November 2015, AfDB’s portfolio in Tanzania consists of 29 projects with total net commitment of USD1.97b, nearly half of which is allocated to transport infrastructure.
In line with the recently approved AfDB Country Strategy Paper (CSP) 2016-2020 for Tanzania, the Bank will focus on supporting the transport and energy sector in the country during the next 5 years.
This will be achieved by improving the domestic and regional transport network and providing access to affordable electricity.
The AfDB’s 2016–2020 approved assistance package for Tanzania exceeds USD 1.1bn.