TANZANIA, ZAMBIA RECEIVE 270 MILLION DOLLARS FROM WORLD BANK TO IMPROVE TRANSPORT, TRADE CONNECTIVITY

Mon 26 February 2024:

Tanzania and Zambia have received a 270 million dollar grant from the World Bank to help with commerce and transportation connectivity, according to a statement released Wednesday.

The grant was meant to improve transportation and trade connectivity along the Dar es Salaam corridor between the two countries as part of the six-year Transport Corridors for Economic Resilience project, which aims to improve the efficiency, connectivity, and climate resilience of key regional transport and trade corridors in eastern and southern Africa.

Achim Fock, the World Bank country manager for Zambia, said in the statement that the project is a significant commitment to regional trade and transportation.

“By focusing on strategic improvements and climate resilience, we hope this will pave the way for a more robust and sustainable economic future for Zambia and its neighbors. The transport and logistics sectors are expected to experience a boost from targeted activities aimed at institutional and sectoral capacity building,” he said.

According to the statement, the project will benefit 2,500,000 people in Zambia.

It added that the project will rehabilitate the Serenje-Mpika section of the corridor, develop a one-stop border post at the Nakonde, a town on the border with Tanzania as well as address the challenges of inadequate trade and transport facilitation systems.

SOURCE: INDEPENDENT PRESS AND NEWS AGENCIES

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