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- New investment in Tanzania’s railways sector is expected to directly benefit nearly 900,000 people and indirectly impact an estimated 3.5 million.
- Tanzania operates two railway systems, totaling 3,682 km in length.
Tanzania railway sector is poised for immense growth as the World Bank poured significant funding by approving $200 million in financing from the International Development Association (IDA) which is a part of the bank.
According to available information from the World Bank statement made on Friday, the bank said the financing for the second phase of the Tanzania Intermodal and Rail Development Project (TIRP-2) will improve safety, climate resilience, and operational efficiency along this railway segment.
Read also: AfDB approves $696.4M financing for Tanzania-Burundi-DRC railway project
Tanzania railway plan anchored on Dar- Morogoro SGR
The funding comes a few weeks after Tanzania Railways Corporation (TRC) began its inaugural trial journey of the electric Standard Gauge Railway (SGR) train …
Africa’s close development partner, World Bank—on Thursday took a serious initiative to restore its relations with Somalia, after being dull for almost 30 years
According to the statement from World Bank Group, the bank’s Board of Executive Directors moved toward normalizing its relations with the Federal Government of Somalia (FGS).
World Bank anticipates that the restoration will open up opportunities for Somalia to access concessional financing from the World Bank’s International Development Association (IDA) and to work closely with all arms of the World Bank Group to attract investment that will support the country’s stability and development.
The restoration could revitalize Somalia’s economic sphere, as the nation’s real gross domestic product (GDP) growth weakened in 2017 due to the severe drought. Although Somalia averted widespread famine in 2017, the drought led to large-scale food insecurity, affecting more than six million people.
In that context, World Bank Vice President for Africa …