(MENAFN) The African Development Bank (AfDB) has issued a concessional loan of USD256.2 million to Tanzania to support construction of a 260-kilometer Kasulu-Manyovu road project in western region of Kigoma.
An agreement on the loan was signed in the commercial capital Dar es Salaam between Tanzania's Permanent Secretary in the Ministry of Finance and Planning, Doto James, and the AfDB Country Manager for Tanzania, Alex Mubiru.
According to James, the loan will help funding completion of the construction of the road which was expected to take five years of implementation, facilitating economic activities in the western corridor.
He said: "this road section forms an integral part of the Central Transport Corridor, which plays an important role in the development and facilitation of national and international trade flows in the region."
MENAFN0603201900450000ID1098212986
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.