Saturday, 11 February 2012

Tanzania gets euro 50 M loan for airports

Tanzania has signed a 50 million euro loan facility with the European Investment Bank (EIB) to upgrade regional airports to boost tourism and air transport, the local press reported today. Tanzania is east Africa's second-biggest economy.

The cash will be used to upgrade Kigoma, Tabora, Bukoba, Shinyanga and Sumbawanga airports. "This project will significantly open up and ease transport to and from the regions as it will provide access to cost-efficient air transport ... some of the regions are potential for tourism activities,"  said Ramadham Khijjah, permanent secretary in Tanzania's finance ministry.

Projects include the replacement of runways, and the reconstruction of taxiways and passenger terminal buildings.EIB is  a key player in Tanzania's infrastructure development, with the bank having previously loaned the country $134.5 million for a power project.

Tanzania earned $1.4 billion from tourism in the year ended October 2011 from $1.2 billion a year ago, helped by a rise in tourist arrivals, according to central bank statistics.

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