AfDB approves $1.1B loan for infrastructure development in Tanzania
837 views · Published 26 February 2016 · 0:41 · Indexed 20 September 2026
Channel: CGTN Africa · 2016 · News & Politics
The African Development Bank, has approved a 1.1 billion dollar loan to Tanzania for infrastructure development. The debt, to be paid in five years, will support transport and energy projects, to promote domestic and regional transport as well as improve access to reliable, affordable and sustainable power. Tanzania, like its neighbour Kenya, wants to profit from its long coastline and upgrade existing rickety railways and roads to serve growing economies in the land-locked heart of Africa. The government plans to spend 14.2 billion dollars to construct a new standard gauge rail network build a new 10 billion dollar port at Bagamoyo.
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