Africa > East Africa > Tanzania > World Bank approves $345 million loan for Tanzania port expansion

Tanzania: World Bank approves $345 million loan for Tanzania port expansion

2017/07/19

The World Bank said on Sunday it had approved a $345 million loan for the expansion of a port in Tanzania's commercial capital Dar es Salaam, which the East African country aims to turn into a regional gateway.

Dar es Salaam is vying with the port of Mombasa in Kenya to become the trade hub for landlocked neighbours such as Zambia, Rwanda, Malawi, Burundi, Uganda and the Democratic Republic of the Congo, but both ports are hobbled by congestion and inefficiency.

The port handled 13.8 million tonnes in 2016 - an increase from 10.4 million in 2011, reflecting an average increase of 9 % per year, according to the bank. Tanzania wants to lift its capacity to 28 million tonnes a year by 2020.

"The project represents the start of an incremental process towards increasing the capacity of the port of Dar es Salaam and strengthening its economic role in the region," Richard Martin Humphreys, the World Bank's lead transport economist, said in a statement.

In a 2014 statement, the bank said inefficiencies at the port was costing Tanzania and its neighbours up to $2.6 billion a year.

The statement said ongoing infrastructure investments at the port were expected to improve in general productivity and reduce waiting time to berth from 80 hours to 30 hours.

"Enhancing its operational potential will boost trade ... and reduce the current cost of $200-$400 for each additional day of delay for a single consignment," said Bella Bird, the World Bank's Country Director for Tanzania.

The loan is the second batch to be approved by the bank for the expansion of the port this year. Tanzania received $305 million in January.

Last month, the country as well signed a $154 million arrangement with the national-run China Harbour Engineering Company (CHEC) to build a roll-on, roll-off (ro-ro) terminal to deepen and strengthen seven berths at the port.

Related Articles
  • ‘Betting on Africa to Feed the World’

    2017/10/17 The president of the African Development Bank, Akinwumi Adesina, will deliver the Norman Borlaug Lecture on Monday 16 October as part of the World Food Prize events taking place from October 16 to 20, 2017 in Des Moines, Iowa, USA. The Norman Borlaug Lecture under the title: “Betting on Africa to Feed the World”, will be held on World Food Day, October 16, in conjunction with the annual World Food Prize celebration.
  • World Teacher’s day: Gov’t urged to improve teachers’ productivity

    2017/10/16 Cameroonian teachers nationwide have exhorted the Cameroonian government to empower teachers with the requisite tools to be able to deliver their best in the present fast-paced world. While commemorating the 23rd edition of world teacher’s day today, the teachers noted that the theme for this year’s celebration, “Teaching in Freedom, Empowering Teachers,” reaffirms that peace and security are needed for the development of any country.
  • Africa's Economic Future Depends on Its Farms

    2017/10/16 At the same time as the economies of Nigeria and South Africa recently rebounded, it wasn't oil or minerals that did the trick. It was agriculture. Faster and additional sustainable agricultural increase is crucial not only to the continent's economy, but as well to its ability to feed and employ its surging people. Agriculture still accounts for a quarter of gross domestic product and as much as two-thirds of employment in sub-Saharan Africa. In fact, agricultural increase has the biggest impact on non-farm gain and reducing poverty.
  • Uber and African’s economic transformation

    2017/10/16 WHEN Uber was initial established in 2009, its mission was to help people everywhere get a ride, safely, quickly and at the push of a button. Eight years later, that mission remains the same and Uber’s innovative, technology-driven business model is still fundamentally changing the way people think about conference their transport needs. For the completed four years, Uber has been delivering this same level of transformation across sub-Saharan Africa, SSA, and with additional than 1.8 million active riders using the app, Uber certainly has reason to celebrate its fourth anniversary on the continent this September. Uber And it’s not just Uber that has benefited from the stellar uptake of its convenient offering in Africa.
  • Tanzania: 128 poachers arrested in one year

    2017/10/15 Tanzanian anti-poaching unit has arrested 128 poachers in central parts of the east African country for the completed one year, an official said on Saturday. Keneth Sanga, chief of central Tanzania’s anti-poaching unit, said that the suspected poachers were arrested in different parts of central Tanzania’s regions of Singida and Dodoma between 2016 and this year, according to Xinhua News agency.