The African Development Bank Group (AfDB) has approved $250.95 million for road construction projects in Tanzania and Sierra Leone, a statement from the Bank said April 5, 2012.

Under the approvals, AfDB said Tanzania’s government will receive $216.87 million loan from its African Development Fund (ADF) to finance phase two of the country’s Road Sector Support Project. The project, estimated at $329.62 million, comprises upgrading and construction work on the Dodoma-Babati, Tunduru-Mangaka and the Mangaka-Mtambaswala strategic road axes covering 390 kilometers in the eastern and southern parts of the country, respectively.

Sierra Leone, on the other hand, will receive two grants and a loan amounting to $34.08 million to finance the Matotoka-Sefadu Road Rehabilitation project in the central-eastern part of the country, according to the Tunis-based lender.

The funding comprises an $18.59 million grant from the Fragile States Facility, a $10.56 million ADF grant and a $4.93 million ADF loan, it said.

The OPEC Fund for International Development and Sierra Leone’s government will contribute the remaining amount for the project estimated to cost $46.13 million.

By Ekow Quandzie/ghanabusinessnews.com

View the original article here

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.