SALAAM Tanzania (Xinhua) --
The World Bank said Monday that Tanzania would be able
to access an estimated 2.4 billion U.S. dollars in
concessional financing over the next three years, an
increase of half a billion dollars over the past
Visiting World Bank
President Jim Yong Kim said the bank was encouraged to
hear about the tremendous reform efforts by the the
government of President John Magufuli.
He made the remarks at the launching ceremony for the
construction of Ubungo Interchange in Dar es Salaam
undertaken by China Civil Engineering Construction
Corporation (CCECC), which is funded by the World Bank
with a total of 80.96 million dollars.
"You’ve eliminated wasteful government spending,
while scaling up investments in infrastructure and
rightly investing in education," Kim told Magufuli at
He encouraged Tanzania to invest in people,
education, healthcare, and social protection for the
poorest and most vulnerable.
President Magufuli said construction of the Ubungo
Interchange was expected to ease transportation in the
commercial capital Dar es Salaam as well as contribute
to its scenic beauty upon completion.
"The Ubungo Interchange is the next step in the Dar
es Salaam Urban Transport System," said Magufuli. The
construction of the interchange was scheduled to last 30
The World Bank is currently financing 23 national
projects amounting to 3.6 billion dollars, in addition
to seven regional operations, through which Tanzania
accesses 551 million dollars in financing, reaching a
total commitment of 4.3 billion dollars.
The bulk of this support (22 percent) focuses on the
transportation sector, followed by urban development (20