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After being interviewed yesterday in Dar es Salaam with the Minister of Finance and Planning, Dr. Philip Mpango, and the Minister of Energy, Dr. Medard Kalemani, the director general of the bank, Admassu Tadesse, said the funds would be shared equally. in Tadesse, Tanzania is one of the main stakeholders of the bank with its 6.4% of shares, ranking it in 7th place among the 37 countries with shares in the bank.
He said that in March of this year, the bank was funding a total of 11 development projects in regions across the country. The projects cover the improvement of banking and financial services, energy supply and industrial infrastructure, for a total value of $ 284.6 million
"We will finance more projects from all over the world. worth $ 157 million already approved by the bank ".
He also revealed that the bank will soon provide about $ 600 million for the implementation of projects in the commercial agricultural, construction, energy and oil sectors.
Dr. Mpango said the bank supported strategic projects such as RMS and LNG. Kilwa is more than likely to stimulate economic growth.
The finance minister promised to speed up all official processes so that the funds will be disbursed in three months.
According to Energy Minister Kalemani, once the LNG project operational will add 318 megawatts to the national power grid. The country's total electricity generation is currently 1500 MW, he said.
He explained that 176 villages in the country do not have electricity services, including 120 in islands.
"This bank has agreed to help the government to provide electricity services to the villages.New hydroelectric projects will be launched with the capacity to produce 10 MW each," said Kalemani
The The mandate of the Bank of Commerce and Development (TDB) is to finance and promote trade, socio-economic development and regional economic integration, financing, project and infrastructure financing, fund management and services.
It is composed of 22 African countries and 13 investment institutions.
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