Abu Dhabi | 3 April 2018:
Abu Dhabi has further extended its concessionary loan to Tanzania and the new agreement is worth AED55 million for the 51km of the Uvinza-Ilunde-Malagarasi Road upgrade.
Director Geeral of Abu Dhabi Fund for Development (ADFD), Mohammed Saif Al Suwaidi, signed the loan agreement along with Engineer Mussa Ibrahim Iyombe, Permanent Secretary to the President's Office Regional Administration and Local Government at the ADFD headquarters in Abu Dhabi.
Officials from both the sides present during the signing ceremony included Ambassador of Tanzania to the UAE, Mubarak Nasser Mubarak, and Deputy Director General of the Abu Dhabi Fund for Development, Khalifa Abdullah Al Qubaisi.
The loan extension is addition to the 2009 funded project of Kidaho-Ovinza Road worth AED169 million.
The project is aimed to enhance socio-economic status of rural populations in the Kigomo region and the extension seeks improvement of transportation network between Dar es Salaam and Kigoma.
After the completion of the project it is believed the domestic connectivity between cities and villages would improve.
The international connectivity with neighboring countries too would be boosted paving way for the country to become strategic objective to become East Africa's industrial and logistics hub.
Suwaidi said the loan extension reflects priority of ADFD to support projects in developing countries and the road upgrade in Tanzania is an important venture for them to make the nation a semi-industrial country.
He added further that such developing projects across vital economic sectors to improve living standards of the people and their support would fulfil the development aspirations of Tanzanian government.
ADFD has been supporting development projects in Tanzania since 1977 and until now has financed several projects in the country.
Reference
Source 1: ADFD extends loan to Tanzania
Author Paul Linus
Abu Dhabi has further extended its concessionary loan to Tanzania and the new agreement is worth AED55 million for the 51km of the Uvinza-Ilunde-Malagarasi Road upgrade.
Director Geeral of Abu Dhabi Fund for Development (ADFD), Mohammed Saif Al Suwaidi, signed the loan agreement along with Engineer Mussa Ibrahim Iyombe, Permanent Secretary to the President's Office Regional Administration and Local Government at the ADFD headquarters in Abu Dhabi.
Officials from both the sides present during the signing ceremony included Ambassador of Tanzania to the UAE, Mubarak Nasser Mubarak, and Deputy Director General of the Abu Dhabi Fund for Development, Khalifa Abdullah Al Qubaisi.
The loan extension is addition to the 2009 funded project of Kidaho-Ovinza Road worth AED169 million.
The project is aimed to enhance socio-economic status of rural populations in the Kigomo region and the extension seeks improvement of transportation network between Dar es Salaam and Kigoma.
After the completion of the project it is believed the domestic connectivity between cities and villages would improve.
The international connectivity with neighboring countries too would be boosted paving way for the country to become strategic objective to become East Africa's industrial and logistics hub.
Suwaidi said the loan extension reflects priority of ADFD to support projects in developing countries and the road upgrade in Tanzania is an important venture for them to make the nation a semi-industrial country.
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He added further that such developing projects across vital economic sectors to improve living standards of the people and their support would fulfil the development aspirations of Tanzanian government.
ADFD has been supporting development projects in Tanzania since 1977 and until now has financed several projects in the country.
Reference
Source 1: ADFD extends loan to Tanzania
Author Paul Linus
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