Africa-Press – Tanzania. THE African Development Bank Group (AfDB) has approved a total 43 projects worth 4.73 billion US Dollars (about 12.33tri/-) in a period of ten years, the outgoing bank’s President, Dr Akinwumi Adesina said yesterday.
The projects have more than doubled the bank’s financial support in the country with a focus on infrastructure development, which include transport, energy, water and sanitation.
The projects account for 72 per cent of total net commitment. Speaking at the University of Dar es Salaam’s graduation ceremony where he was also awarded a degree of science (Honorics causa), Dr Adesina said since 2015 when he was elected as president of AfDB the support of the bank to Tanzania has grown in leaps and bounds.
“Under my presidency, the total financial support to Tanzania is 4.73 billion US dollars which represents 53 per cent of all Bank’s lending to Tanzania over the past 54 years,” said Dr Adesina.
The transport sector has benefited the most accounting for 54 of total commitments followed by multi sectors 13 per cent, energy 11 per cent, water and sanitation and finance, with 7 per cent each.
Other are social communication, urban development industry, mining and agriculture, which account for a combined share of 8 per cent.
Dr Adesina said he was impressed with Tanzania’s economic performance and resilience under the dynamic and visionary of the President Samia Suluhu Hassan.
According to the AfDB boss, he was also impressed by growth in agriculture, tourism, financial services manufacturing, construction and mining, sound macroeconomic and fiscal policies.
“This year real DGP will expand further to 5.9 per cent and 6.0 per cent, making Tanzania one of the fastest growing economies in Africa, that is why at the AfDB, our support to Tanzania in the past four years grew from 2.25 billion as of December, 2021 to 3.74 billion in December, 2024,” said Dr Adesina.
He further said, AfDB supported the strategic project -Build a Better Tomorrow (BBT)- with 130. million US dollar which targeted to support 12,000 profitable enterprises in 1200 villages across the country.
Moreover, Dr Adesina noted that the AfDB is mobilizing USD 3.2 billion (approx. 8.3 trillion TZS) to fund the Standard Gauge Railway (SGR), which will connect Tanzania with Burundi and the Democratic Republic of Congo, boost regional trade and integration, and open up the mining corridor.
He urged graduates to utilise the knowledge they have acquired to make the African continent a better place. He said: “Stay focused. When those around you tell you that what you believe in is impossible, tell yourself that ‘with God all things are possible and then go for it.”
On his part, UDSM Chancellor, former President Jakaya Kikwete said Dr Adesina has been awarded an honorary doctorate in recognition of his outstanding contribution to national development as well as the African continent.
He praised Dr Adesina for his unwavering commitment to economic growth and for fostering strong partnerships that have positively impacted Tanzania.
“Dr Adesina has played a key role in mobilising support from the AfDB to implement development programmes across the country. These initiatives aim to strengthen Tanzania’s economy by building resilience, improving livelihoods, promoting regional cooperation and investing in sustainable infrastructure that supports a competitive and modern economy,” said Dr Kikwete.
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