Dar maritime gateway project receives $357m funds from WB
WB Country Director for Tanzania, Malawi, Burundi and Somalia Bella Bird
What you need to know:
- WB Country Director for Tanzania, Malawi, Burundi and Somalia Bella Bird said in a statement that the WB Board of Executive Directors had approved $345 million credit for the project and $12 million more would be provided as a grant.
Dar es Salaam. The Dar es Salaam Maritime Gateway Project (DMGP), which President John Magufuli, is expected to launch on Sunday at the Dar es Salaam Port has received $357 million World Bank (WB) funds.
WB Country Director for Tanzania, Malawi, Burundi and Somalia Bella Bird said in a statement that the WB Board of Executive Directors had approved $345 million credit for the project and $12 million more would be provided as a grant.
She said the port expansion would improve its to 25 million tonnes in the coming seven years and berth waiting time would be reduced from 80-30 hours, hence improve the general port's efficiency.
"Enhancing its operational potential will boost trade and job creation across the region and reduce the current cost of $200-400 of delay per day for a single consignment," she said.
The government will contribute $63 million through the Tanzania Ports Authority (TPA) and the United Kingdom (UK) through the Department for International Development (DFID) will contribute $12 million as a grant.
Another partner is the Trade Mark East Africa.
