AfDB to finance construction of railways and roads in Tanzania
3,457 views · Published 7 December 2015 · 0:44 · Indexed 29 October 2026
Channel: CGTN Africa · 2015 · News & Politics
Tanzania has signed a $346.9 million loan with the African Development Bank to build new roads that will help transform the country into a regional trade and transport hub. The East African nation wants to profit from its long coastline and upgrade its aging railways and roads to serve growing economies in the land-locked heart of Africa. Servacius Likwelile, permanent secretary of Tanzania's finance ministry has said part of the loan would be used to fund feasibility studies for rail and airport projects. Oil discoveries in Kenya and Uganda and gas finds in Tanzania have sent governments to undertake new infrastructure projects after decades of underinvestment.
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