African Development Bank president begins three-day official visit to Tanzania

African Development Bank president begins three-day official visit to Tanzania

African Development Bank Group ( President Dr. Akinwumi A. Adesina began a three-day official visit to Tanzania on Monday. The visit signals strong ongoing support by the pan-African lender for transformative infrastructure in the country.
The Bank Group chief will meet with President Samia Suluhu Hassan and senior members of government. On Wednesday, Adesina will join President Hassan for the foundation stone laying ceremony for the 112.3 km Dodoma City Outer Ring Road co-financed by the Bank.
Once a market town in central Tanzania and the country’s capital since 1996, Dodoma will now see the laying of groundwork for one of the largest road projects in the whole of East and Central Africa. The circular highway forms part of a masterplan to transform greater Dodoma into a thriving, sustainable city for its 2.4 million people. It is expected to shore up Dodoma’s reputation as an academic city and tourist destination.
The African Development Bank Group is a major project funder. Its Board approved funding for the Dodoma City Outer Ring Road project in 2019. The total project cost is $214.69 million. The Bank Group is financing 64% of this or $137.3 million. The government of Tanzania’s contribution is $34.5 million, while an additional $41.8 million comes from the Africa Growing Together Fund, financed by the People’s Bank of China.
Meeting with international development partners on Monday, Adesina said: “Tanzania is making good strides in infrastructure development as it continues to construct roads linking to highways as in Dodoma and other parts of the country.”
The African Development Bank’s Director General for East Africa, Nnenna Nwabufo, said: “Improving the lives of the people of Tanzania is our key mandate, and this visit reinforces the importance that the African Development Bank places on the country. The Bank remains a trusted partner of Tanzania.”
Overall, Adesina’s visit is expected to strengthen the already solid relationship between Tanzania and the Bank Group, reinforcing the country’s determination to become a middle-income economy.
Tanzania, a founding member of the African Development Bank, enjoys one of the largest Bank portfolios in the East Africa region. In January 2022, the Bank’s active portfolio consisted of 23 operations valued at $2.5 billion. Infrastructure accounts for 87% of the portfolio value, out of which transport covers 62%, followed by energy (16%), and water supply and sanitation (9%). Agriculture, finance, and multisector make up 13% of the portfolio. Sovereign operations totaled $2.32 billion.

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