Browsing: AfDB loans to Tanzania

Tanzania’s Minister for Finance and Planning, Dr Mwigulu Nchemba signs loan deal with the African Development Bank (AfDB) to implement Kakono HPP in the Lake Zone. Photo/Michuzi

New power project to unleash Tanzania Lake Zone economic potential

Tanzania
  • Tanzania signs 161.47 million US dollars to implement Kakono HPP in Lake Zone
  • European Union (EU) to chip in additional 35 million Euro for Kakono HPP 
  • Kakono HPP will take five years to complete, feature a primary school, health centre

The government of Tanzania has secured funding for the Kakono Hydropower Project (Kakono HPP). The project is in line with the country’s Third Five-Year Development Plan (FYDP III) and aligns with President Samia Suluhu’s plan to foster a competitive industrial economy.

The Lake Zone, in the north-western part of Tanzania, is one of the country’s highest fossil fuel consuming region due to the low coverage by the national electricity grid. The region uses diesel generators making the region expensive for investors and residents.   

Funding a US$325 million power project in E. Africa

Also Read: French Development Agency provides $30 million for African SMEs

With assistance from the African Development Bank …

Tanzania President Samia Suluhu Hassan announced at the Africa Food Summit in Dakar, Senegal, that the state will give 11,000 acres to the youth for agricultural production. Photo/Ikulu

Tanzania gives land to the youth to boost productivity  

Countries
  • Tanzania launches Youth Guarantee Scheme and Loan Facility
  • Special scheme to give 11,000 acres to its youth for agriculture
  • Youth empowerment initiative to be overseen by the Agricultural Input Trust Fund

Tanzania is giving land to the youth to boost agricultural productivity and create employment. 

While speaking at the Africa Food Summit in Dakar, Senegal, Tanzania President Samia Suluhu Hassan announced that the state will give 11,000 acres to it’s youth for agricultural production. 

Suluhu explained that the decision is part of the country’s ‘Building a Better Tommorrow’ (BBT) initiative. Through a special programme, the Tanzanian government has announced that it will give qualifying youth access to land ownership as part of the country’s ongoing initiative to secure economic empowerment for its youth, the largest part of its population. (santaritalandscaping.com/)

The move is part of an ongoing national agricultural development initiative that is meant to develop the sector

…
www.theexchange.africa

AfDB to give Tanzania $73.5 million to boost food production by a million tonnes

Business
  • Tanzania will receive $73.5 million to finance a programme that will boost its food production by a million tonnes
  • The African Development Bank Group (AfDB) said its board had approved the funding, which will go into the Tanzania Agricultural Inputs Support Project
  • The project, which will span from September 2022-June 2025, was designed under AfDB’s African Emergency Food Production Facility to tackle a potential food crisis exacerbated by the war in Ukraine

In the next three years, Tanzania will receive $73.5 million to finance a programme that will boost its food production by a million tonnes.

In a statement, the African Development Bank Group (AfDB) said its board had approved the funding, which will go into the Tanzania Agricultural Inputs Support Project.

The project, which will span from September 2022-June 2025, was designed under the Bank Group’s African Emergency Food Production Facility to tackle a potential food crisis exacerbated by …