AfDB Reiterate Financial Support to Tanzania

AfDB support to Tanzania 2019

The President of the African Development Bank (AfDB) Hon. Dr. Akinwumi Adesina met with the President of Tanzania, Hon. Dr. John Bombe Magufuli in Dar es Salaam on May 15th, 2019.

Dr. Adesina congratulated Tanzania and President Magufuli for the country’s strong economic growth of 7% per annum on average and therefore for being among the countries experiencing the fastest economic growth in the world.

He also congratulated him for the cooperation with neighboring countries such as Uganda to achieve the construction of the pipeline project transporting crude oil from Hoima in Uganda and the Tanga port in Tanzania.

Moreover, Dr. Adesina said that the AfDB is ready to help solve the problem of markets for the crop produced in different regions of Tanzania and promised that the Bank will support the project for the construction of a road connecting Isaac in Tanzania to go to Kigali in Rwanda that will also benefit neighboring countries, namely Burundi and the DRC Congo.

For his part, President Magufuli thanked Dr. Adesina for the great cooperation which the AfDB offers to Tanzania and assured him that the funds provided by the Bank will bring the expected results.

AfDB in Tanzania

Tanzania is the second largest beneficiary of the concessionary funding window of the Bank, the African Development Fund (ADF).

The AfDB has funded projects worth TZS 4.55 trillion in Tanzania with the latest approved funding aimed at road construction projects, and the construction of an international airport in the Tanzanian capital Dodoma.

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