The Development Bank of
The new partnership is expected to pay for the rehabilitation of berths one to seven at Dar es Salaam port and also parts of Mtwara port.
No details of the actual amount of money involved are provided however in a memorandum of understanding the two banks will also pay for additonal rail wagons and locomotives. Other projects include the construction of the new Mwanza and
The joint fund is expected to enable
Speaking in Dar es Salaam recently, the Minister of Transport Dr.
He said the government has long realized it cannot depend on its own resources to develop the much needed infrastructure.
"We have come to realize that dependence on government budget will not enable us to achieve our objectives in the short term.
"We welcome the efforts made by the two financial institutions that will enable the transport sector to meet its long term objectives and also enable the Ministry accomplish its projects," Dr. Mwakyembe said.
He said the signing of the MOU will support the financing of different projects in the country that will underpin the country's economic growth.
Noni said the partnership was an important milestone for the bank in ensuring the attainment of the nation's Vision 2025.
Dlamini said that the synergies between the respective rich heritage and specialties of the two institutions was the main driver to promote regional economic development and growth by providing support to development projects in
The DBSA is a development finance institution wholly owned by the South African government with the main responsibility to finance key strategic infrastructure projects in
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