TZW
This was revealed in Washington DC by Minister for Finance and Planning, Dr Philip Mpango, after discussions with the institution’s experts. Dr Mpango said other regional projects that the institution had shown interest to support include environment and rehabilitation of Lake Victoria ports of Mwanza, Musoma, as well as the ones in Lake Tanganyika, to facilitate transportation to Burundi and Congo.
“These regional and national projects that the World Bank plans to implement with the government of Tanzania in the next financial year will ensure that they are sustainable as they affect all countries surrounding the two lakes,” he said. He further explained that it was similarly important to effect environmental pollution control for the people in the region as well as Tanzania to continue to benefit from the major lakes.
In addition, he said the World Bank had also expressed its intention to finance the Ruhuji power project in the Rufiji River, which is expected to produce 300 megawatts. “Electricity is very important for industrial development because an industrial economy cannot grow without reliable power supply,” the minister said. Furthermore, the institution had agreed to assist Tanzania to provide training on project analysis to spare the government getting into more big debts.
The minister explained that lack of effectiveness in analysing projects financed by mortgage loans would lead to a debt burden for the country, and so, Tanzania would ensure all projects were analysed properly.