No off-grid support: World Bank approves $455 million loan for Tanzania power projects

The World Bank has approved a $455 million loan to Tanzania under its International Development Assistance (IDA) programme to support financing of power projects in the East African nation.

The financing from IDA, which gives grants or low-interest loans to the world’s poorest countries, will also fund construction of high voltage transmission infrastructure to connect Tanzania to regional power markets in southern and eastern Africa.

“The $455 million credit will finance construction of critical high voltage transmission infrastructure that will support the electrification of the southern and northwestern regions of Tanzania,” the World Bank said in a statement on Thursday.

Source: Reuters

 

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