The Government of the United Republic of Tanzania has signed a loan agreement of more than 2 Trillion shillings with the World Bank through the International Development Association (IDA), to implement five Mainland and Zanzibar projects, including the Roads to Inclusion and Socioeconomic Opportunities project.

Speaking at the event in Dar es Salaam, the Minister for Finance and Planning, Dr. Mwigulu Nchemba, stated that the money acquired from this loan will facilitate the implementation of five important projects for social services.

According to Dr. Mwigulu Nchemba, the projects includes the Roads to Inclusion and Socioeconomic Opportunities Project (RISE) costing 693.2 billion shillings, while others being Digital Tanzania Project (DTP), Zanzibar Energy Sector Transformation and Access Project (ZESTA), and Zanzibar Integrated Development Project, as well as education projects.

He considered this loan as a sign of trust towards the Tanzanian Government, and thus he assured the good management of the acquired funds to ensure all the projects are successfully implemented.

He added that the signed agreements have increased the value of the projects funded by the World Bank amounting to US $ 5,502.4. He also said that the government is currently concluding another phase of its priority projects including road projects.

On the same note The Minister of Works and Transport,

Urban and Rural Roads Agency (TARURA), Eng. Victor Seff, and World Bank Country Director, Mara Marwick.

The project is an extension to the implementation of road projects that TANROADS has done so far in various regions of the country.