The African Development Bank (AfDB) has agreed to lend the government of Tanzania $140m to finance the construction of the 50-megawatt Malagarasi hydropower plant in Western Tanzania.
The $140m consists of a $120m sovereign loan from the Bank and $20m from the Africa Growing Together Fund, a facility sponsored by the People’s Bank of China and administered by the AfDB.
The funds will be used to construct the plant and an evacuation transmission line, as well as to add 4,250 rural electrification connections for households, schools, clinics and small and medium-sized enterprises in the Kigoma Region.
"I would like to re-affirm the government’s commitment to working closely with the Bank in efforts to realise our national and international development aspirations," said Emmanuel M. Tutuba, Permanent Secretary at the Tanzania Ministry of Finance and Planning.Â
"The government will take all necessary measures to ensure successful implementation of this project as planned."
Image by Lukas Bato/UnsplashÂ
