• Home
  • Radio
  • TV
  • Advertisement
  • Disclaimer
  • Public Notice
    • Opinion
  • New Africa Business News
  • Contact
  • Log In
facebook
    • News
    • Business
    • Video
    • Entertainment
    • Sport
    • Jobs
    • Government
    • Immigrants
    • Investment
    • Gallery
      • Animal
      • Africa Map
    • NGO
    BREAKING NEWS
    $12 Billion Environment Financing Center – The Green Climate Fund permitted to earn African Equity Financial Investment to overcome the Impact of a Warming World
    President Samia Suluhu Hassan of Tanzania Inaugurated an Agriculture Program hoped at Committing the Youth to Large-Scale Agribusiness
    New Era for Equatorial Guinea and Cameroon, Signing  Bilateral Agreement through Cross-Border Cooperation
    South Africa and Stellantis has Greeted a Pact to Develop a Unique Automobile Manufacturing Facility
    Dr. Akinwumi Adesina AfDB’s President maintains it is time to Develop Youth-Based Wealth to Bolster a Better Comprehensive Nigerian Economy
    Abidjan to host on March 17th 2023 the 8th Session of the Steering Committee for the Construction Project of a Motorway between Abidjan and Lagos
    Rwanda’s President Paul Kagame and the President of the World Football Association(FIFA) launched the Kigali Pelé Stadium which is changing the name from Kigali Regional Stadium In Nyamirambo the Capital of Kigali
    First Gold Refinery Company BTC Global started the first Gold refinery in South Sudan in Juba
    The AfDB inducted the African Financial Integrity and Accountability Support Project (AFIAP) by way to Enhance Cooperative Ripostes to Illicit Financial Successions in African Nations
    Morocco’s Strawberry Exports Hits $70 Million in Annual Revenue, a New Historical Record

    African Development Bank’s TZ Portfolio Size Scored $2.1 billion

    Posted On 25 Aug 2019
    By : New Africa Business News, Staff Correspondent
    Comment: 0

    By Abdul Rahman Suagibu –

    African Development Bank Annual Meeting 2019
    Photo Credit: AfDB

    NEW AFRICA BUSINESS NEWS, Freetown, Sierra Leone- Dr. Akinwimi Adesina President of the African Development Bank said, (AfDB) current portfolio size of Tanzania has reached $2.1 billion (more than $4.8 trillion) of which 75% is directed to infrastructure financing. The Bank’s President attended the just concluded 39th Southern Africa Development Community (SADC) Summit, where President John Magufuli authenticated the community’s chairmanship informed the press in an interview over the weekend that, the bank’s infrastructure financing, sanitation and projects are good for regional integration.

    “Tanzania has economic goods which depends very much on reliable and efficient infrastructure and for us as a bank, it is an area of great interest that will spur the industrialization drive and poverty alleviation efforts,” said Dr. Adesina, adding.”

    “Tanzania is a country that I am very passionate about because it continues to have the right leadership, peace and stability which actually encourage investments…it has very good which are very attractive environments for people who want to invest.”

    The bank is financing a very important road project from Bangamoyo-Tanga-Horohoro-Mombasa-Malindi that straddles Tanzania and Kenya for over $250 million.

    Tanzania, City of Dar Es Salaam
    Photo Credit: Unsplash

    The 460km road consists of 210km on the Tanzania side and the rest (250km) is in Kenya, which is expected to improve over-border trade, tourism, socio-economic development and promote regional integration. He said, the bank is financing Msalato the board has Dodoma for more than $200 million and that the board has already approved funding for the construction of 110.2km Dodama ring roads for more than $180 million.

    He note further, “I am also delighted that Tanzania President John Magufuli and Rwanda President Paul Kagame are committed to execute a massive railway project that will link the two countries and serve greatly the Democratic Republic of Congo (DRC) and Burundi.

    “I have come here twice to meet President Magufuli and Kagame separtately to talk on the project… it is a big project that will be implemented using a combination of resources namely sovereign loans and the public private partnership.

    The bank is also financing for regional power transmission to make sure that the countries are connected; for example we will invest in the interconnection between Tanzania and Kenya that will link the EAC to the Southern Africa power pool.

    www.newafricabusinessnews.com
    To Support Africa’s Most Read and Fastest Growing Global Newspaper. Forward www.newafricabusinessnews.com to all the people you know. Many Thanks!   INFO@NEWAFRICABUSINESSNEWS.COM

    For New Africa Business News Abdul Rahman Suagibu Reports,  Africa Correspondent

    Facebook: newafricabusinessnews.com

    Email: Info@newafricabusinessnews.com

    AFRICA’S MOST READ AND FASTEST GROWING GLOBAL NEWSPAPER – www.newafricabusinessnews.com

     

     

     

     

     

     

    NEW AFRICA BUSINESS NEWS
    COMING SOON ADVERTISING OPPORTUNITY WITH AFRICA’S FASTEST GROWING GLOBAL ONLINE NEWSPAPER. THANK TO COMPANIES THAT WANT TO ADVERTISE.   INFO@NEWAFRICABUSINESSNEWS.COM.

    About the Author
    New Africa Business News Staff Correspondent
    • google-share
    Previous Story

    Rwanda, Central Bank Intended to put in Operation, Digital Currency

    Next Story

    Uhuru Kenyatta Declared, Shipment of 200,000 Barrels, as Kenya Exports its First Batch of Crude Oil

    Leave a Reply Cancel reply

    *
    *

    Members Area

    • Members Log In

    RECENT

    POPULAR

    COMMENTS

    $12 Billion Environment Financing Center - The Green Climate Fund permitted to earn African Equity Financial Investment to overcome the Impact of a Warming World

    Posted On 24 Mar 2023

    President Samia Suluhu Hassan of Tanzania Inaugurated an Agriculture Program hoped at Committing the Youth to Large-Scale Agribusiness

    Posted On 23 Mar 2023

    New Era for Equatorial Guinea and Cameroon, Signing  Bilateral Agreement through Cross-Border Cooperation

    Posted On 21 Mar 2023

    New Africa Business News, Africa Leader of the Year 2022-2023 Goes to Ethiopia's Prime Minister Dr. Abiy Ahmed

    Posted On 24 Feb 2023

    New Africa Business News 2022-2023 Person of The Year Goes to Professor Patrick Loch Otieno Lumumba (PLO Lumumba)

    Posted On 05 Jan 2023

    New Africa Business News, Person of the Year 2021-2022, Goes to African Women

    Posted On 29 Jan 2022

    Thanks for reading, Africa’s fastest...

    Posted On 26 Feb 2023

    Thanks for reading, Africa’s fastest...

    Posted On 26 Feb 2023

    Thanks for reading, Africa’s fastest...

    Posted On 26 Feb 2023

    Facebook

    Latest Posts

    $12 Billion Environment Financing Center - The Green Climate Fund permitted to earn African Equity Financial Investment to overcome the Impact of a Warming World

    President Samia Suluhu Hassan of Tanzania Inaugurated an Agriculture Program hoped at Committing the Youth to Large-Scale Agribusiness

    New Era for Equatorial Guinea and Cameroon, Signing  Bilateral Agreement through Cross-Border Cooperation

    Recent Posts

    • $12 Billion Environment Financing Center – The Green Climate Fund permitted to earn African Equity Financial Investment to overcome the Impact of a Warming World
    • President Samia Suluhu Hassan of Tanzania Inaugurated an Agriculture Program hoped at Committing the Youth to Large-Scale Agribusiness
    • New Era for Equatorial Guinea and Cameroon, Signing  Bilateral Agreement through Cross-Border Cooperation
    • South Africa and Stellantis has Greeted a Pact to Develop a Unique Automobile Manufacturing Facility
    • Dr. Akinwumi Adesina AfDB’s President maintains it is time to Develop Youth-Based Wealth to Bolster a Better Comprehensive Nigerian Economy

    Categories

    • Business
    • Education
    • Entertainment
    • Featured
    • Government
    • Immigrants
    • Investment
    • News
    • NGO
    • Obituary
    • Opinion
    • Public Notice
    • Sport
    • Video

    Tag Cloud

    african economy business africa

    Contact Form

    1. Name *
      * Please enter your name
    2. Email *
      * Please enter a valid email address
    3. Message *
      * Please enter message
    Copyright 2019 New Africa Business News, Inc. A Global International Company, Inc. All Rights Reserved.