ARUSHA, Tanzania (Xinhua) --
The African Development Bank (AfDB) on Wednesday pledged to continue supporting
Tanzania’s development projects by providing loans with low-interest rates.
AfDB Vice-President in-charge of power, energy, climate and green growth, made
the pledge when he met with Tanzania’s Finance and Planning Minister Phillip
official said that the bank will support Tanzania in different ways including
the country’s industrialization agenda.
that his bank has allocated 12 billion U.S. dollars to support African countries
including Tanzania so that they improve their economies as well as fighting
against climate change.
bank official said energy improvement is his priority in Tanzania, particularly
ensuring that state-run power utility firm (TANESCO) becomes free from huge
debts, making it able to focus on providing competitive services for the
country’s economic benefits.
is to ensure that TANESCO provide reliable and affordable power, which will
stimulate the country’s economy,” the AfDB official said.
revealed the African bank has come up with a new strategy of encouraging the
effective use of sustainable power in an effort to reduce the use of charcoal
and firewood as a source of cooking energy.
He said that
the move is also meant to save trees and forests in the continent and Tanzania
Hott, the bank is interested in financing projects which are encouraging the use
of sustainable energy in urban and rural areas.
the role played by the AfDB in improving road infrastructures in the country,
asking the bank to extend the support into the standard gauge railway line
construction, the project which intends to improve transport of passengers and
cargo in the Great Lakes Region.