AfDB Approves USD 251 Million Funding for Roads in Tanzania and Sierra Leone
The African Development Bank Group has approved USD 250.95 million (UA 162 million) for road construction projects in Tanzania and Sierra Leone.
Under the approvals made by the AfDB Group Boards on Thursday in Tunis, Tanzania’s government will receive USD 216.87 million loan from African Development Fund (ADF) to finance phase two of the country’s Road Sector Support Project. The ADF is the Bank Group’s concessional support window.
The project comprises upgrading and construction work on the Dodoma-Babati, Tunduru-Mangaka and the Mangaka-Mtambaswala strategic road axes covering 390 kilometers in the eastern and southern parts of the country, respectively.
The project is estimated at USD 329.62 million (UA 212.78 million), and will be co-financed by the Japan International Cooperation Agency (JICA) and the government.
For its part, Sierra Leone will receive two grants and a loan amounting to USD 34.08 million (UA 22 million to finance the Matotoka-Sefadu Road Rehabilitation project in the central-eastern part of the country.
The funding comprises a USD 18.59-million grant from the Fragile States Facility, a USD 10.56-million ADF grant and a USD 4.93-million ADF loan. The OPEC Fund for International Development and Sierra Leone’s government will contribute the remaining amount for the project estimated to cost USD 46.13 million (UA 29.78 million).
1 Unit of Account (UA) = 1.54909 United States Dollars (USD) on 5 April 2012