ADB TO FINANCE MORE INFRASTRUCTURE PROJECTS IN TANZANIA

President Jakaya Mrisho Kikwete shakes hands with Ms Tonia Kandiero, ADB's Resident Representative Tanzania Field Office at the Opening of Singida-Babati-Minjingu Road recently in Singida.

News by a Correspondent

The African Development Bank Bank is in the final stages of processing financing for the Arusha-Holili/Taveta-Voi Corridor, which at completion will facilitate cross-border trade and support the integration agenda of the East African Community.

The corridor is meant to not only serve part of central and north-western Tanzania but also the landlocked neighbors to the West, namely Rwanda, Burundi and Eastern  Democratic Republic  of Congo.

“The Bank recognizes that infrastructure development is at the heart of the economic development process that reduces the cost of doing business, attracts private sector investment, enables production and social service delivery, links market centers and contributes to the sustainability of the quality of life through re-distribution of wealth as provided in MKUKUTA II and the Five Year Development Plan.

“We, at the African Development are very proud of the partnership with Government in co-financing the construction of this very important road”, said the ADB Resident Representative in Tanzania Tonia Kandiero, ADB’s Resident Representative Tanzania field office at the Opening of the Singida-Babati-Minjingu Road in Singida.

Ms Kadiero also said that the ADB  together with the Japanese International Cooperation Agency (JICA) have set aside financing for the Mayamaya-Bonga road under the Road Sector Support Project II.

She said the procurement process for the award of the civil works contracts was  at an advanced stage with the contractors expected on site in the first quarter of 2013.

“The completion of this section together with the rehabilitation of the Minjingu-Babati road financed by another development partner will provide an all-weather link between Arusha and Dodoma”, she noted.

Ms Kadiero said that the ADB  is committed to infrastructure development on the continent and as such has allocated a big percentage of its resources to the cause.

“The allocation is consistent with the Bank’s Medium Term Strategy (2008-2012) and the Long-Term Strategy (2013-2022), that have identified infrastructure as one of the major focus areas for new commitments especially projects that have high development and regional integration impact.

“For Tanzania, I am happy to report that ongoing Bank financed transport infrastructure portfolio currently stands at USD550 million and expected to grow to USD650 million by the end of the 2012/2013 financial year”, she said.