ARUSHA Tanzania (Xinhua) --
The African Development Bank (AfDB) is set to
inject 1.5 billion U.S. dollars into various Tanzanian
development projects in the next two years, the bank’s president
Akinwumi Adesina announced on Wednesday.
According to a
statement issued by Ben Mwaipaja, Tanzania’s Ministry of Finance
and Planning spokesperson, Adesina made the pledge at Dar es
Salaam’s Julius Nyerere International Airport (JNIA) on arrival
for a working visit to the east African nation.
The AfDB boss said
ongoing projects financed by the bank are worth two billion
dollars in the areas of infrastructure, energy, agriculture,
water and sanitation.
“We at AfDB are very
proud of our relationship with the United Republic of Tanzania
which dates back to 1971. The bank has so far invested a total
of 3.6 billion U.S. dollars in the country in grants and aid,”
He explained that
the bank has invested 1 billion dollars in infrastructure
development alone, the aim being to improve transportation in
the country and hence spur economic growth.
In the energy
sector, AfDB has pumped in 220 million dollars for a 400KV
electricity transmission line measuring 670 kilometres in the
southern and western parts of Tanzania, he said.
“These projects will
complement the efforts of President Magufuli who is working hard
to turn Tanzania into an industrialized economy,” Adesina noted.
He added that AfDB
also plans to help transform the Tanzania Electric Supply
Company into an efficient and profitable firm capable of
producing and distributing electricity at a reasonable price.
and Planning Minister Philip Mpango, who received Adesina at the
airport, described AfDB as Tanzania’s true partner in
Adesina is in the
country at the invitation of Tanzanian President Magufuli and is
scheduled to deliver remarks at this year’s national Union
commemoration event at the Jamhuri Stadium in the country’s
capital, Dodoma on Thursday.