- Tanzania Gives Go-Ahead to Massive Sh80.85 Billion Mbamba Bay Port Construction Project
- KeNHA Unveils Strategic Sh394 Billion Plan to Construct Major Highways in Kenya
- Ruto’s Multi-Million Plan to Host the 2027 Africa Cup of Nations (AFCON) Tournament in Kenya
- Tanzania's Modern Industrial Park Project on Course with 3.5 Trillion Investment
- African Development Bank Greenlights $696.41 Million for Phase 2 of Tanzania-Burundi-DRC SGR
- Biggest construction trade exhibition announced in Nairobi at KICC
- President Ruto's Vision of Affordable Housing Projects Taking Shape in Kenya
- Ethiopia Receives $720 Million in Funding for Road Construction Project
- $3.24 Billion to be Invested in Tanzania SGR Construction by Spain
- Ksh700 Billion to be Invested to Complete Pending Kenyan Road Projects
African Bank Loans Tanzania Funds for Infrastructure Development
Stanbic Bank, a subsidiary of the pan-African Standard Bank Group, has loaned Tanzania 970 billion shillings ($600 million) to finance infrastructure improvements, Tanzania’s The Guardian reported Monday (April 15th).
“Stanbic’s aim in raising financing for infrastructure projects is vital for the country’s economic development and was achieved through targeted private placement note issue in offshore markets,” said Minister of Finance William Mgimwa.
The funds will go to projects in numerous sectors, including roads, energy and rail equipment. Investment in infrastructure is expected to make the greatest contribution to increasing Tanzania’s annual per capita growth.
“This deal represents a milestone in our ability to advise the government on how to access funds from capital markets,” said Stanbic Tanzania Managing Director Bashir Awale, adding that infrastructure development will create jobs and investment opportunities.
Source : abdas.org
Posted on : 30 Nov,-0001
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