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Exim Bank eager to bankroll more development projects

Exim Bank eager to bankroll more development projects

The remarks were made by the Exim Bank Public Relations and Marketing Manager, Ms Linda Chiza, shortly after the inauguration of the 20-storey construction Ushirika Towers in Dar es Salaam recently. The 25bn/- project has been partly funded by Exim which contributed 12bn/-.

Ms Chiza said her bank had earlier this year signed an agreement with the Tanzania Federation of Co-operatives (TFC) that would, among other things, see the renovation of the existing 12-storey Ushirika House next to the Towers. She said Exim Bank was willing to fund other development projects upon fulfillment of necessary requirements.

"We are grateful to be part of the development process. Our loan to TFC has a lot of meaning not only to the city of Dar es Salaam but the country as a whole. "We will continue to support various development projects as well as communities where we operate through our Corporate Social Responsibility Programme," she said.

The TFC Chairman Hassan Wakasuvi during the event said his institution has secured 25bn/- for the entire project that will be completed in two years. He however said the loan would be payable under the supervision of the Unit Trust of Tanzania (UTT) before TFC fully owns it.

Mr Wakasuvi who expressed gratitude to the financiers was however optimistic that the project apart from being a big revenue earner to the institution would create more jobs during and after its completion. "It is my hope that the project will help find solution  to the problem of parking space within the city since it will have two floors strictly for parking that can accommodate up to 200 vehicles,he said.

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Author: DAILY NEWS Reporter

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