TZ gets 2.3tri/- war chest for projects

TANZANIA has secured a soft loan amounting to US Dollars 1billion (about 2.3tri/- ) from the Republic of Korea, to finance various development projects.

Speaking during the signing ceremony in Dar es Salaam on Thursday, Permanent Secretary in the Ministry of Finance and Planning, Mr Emmanuel Tutuba said the loan from the Economic Development Cooperation Fund (EDCF) would cover some identified projects at various stages of preparation in the 2021-2025 period.

He mentioned some of the projects to be executed under the Framework Arrangement (FA) as National Identification System Expansion Phase II, which will use 163.1bn/- and Improvement of National Land Data Infrastructure 151.5bn/-.

“Others are water supply system and waste water treatment system development in Iringa to cost 163.1bn/- and construction of modernised Railway Training Centre, to cost 186.4bn/-,” said Mr Tutuba.

The loan will also be channeled towards financing the construction of Binguni Hospital in Zanzibar, at the cost of 233bn/- and other projects in the sectors of Information and Communication Technology (ICT), Health, Energy and Infrastructure.

Million US dollars was committed for the period from 2018 to 2020. PS Tutuba said the commitments were towards financing projects in sectors of transport, infrastructure, education, health, energy and water.

He cited some of the projects implemented by Korea as New Selander Bridge (Tanzanite Bridge), which has beautified Dar es Salaam city and significantly reduced the traffic jam along Ali Hassan Mwinyi Road and the construction of irrigation infrastructure in Zanzibar.

In addition, Tutuba said prior to the listed framework arrangements there were individual arrangements between the two countries under which some projects like Mloganzila Hospital and Jakaya Mrisho Kikwete bridge connecting Tabora and Kigoma regions across Malagarasi river, Iringa – Shinyanga backbone power project Investment and others, were financed.

On his part, Ambassador of the Republic of Korea to Tanzania, Mr Kim Sun Pyo, said the Korean government is committed to continuing supporting Tanzania’s development agenda through financing and implementing important infrastructure projects like Tanzanite Bridge and others.

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