Abu Dhabi Fund For Development Finances USD 30 Million to Build Up Energy Security in Tanzania
The project’s target is to completely link the Kagera administrative region with the national electricity grid, minimising dependency on energy imports from Uganda and providing sustainable and guarded electricity sources to communities, economic regions, and service facilities.
August 11, 2023. By EI News Network
The project’s target is to completely link the Kagera administrative region with the national electricity grid, minimising dependency on energy imports from Uganda and providing sustainable and guarded electricity sources to communities, economic regions, and service facilities.
The agreement was inked by His Excellency Mohamed Saif Al Suwaidi, Director General of Abu Dhabi Fund for Development; and His Excellency Dr. Mwigulu Nchemba, Minister for Finance of The United Republic of Tanzania; in the presence of His Excellency Khalifa Abdullah Al Qubaisi, Deputy Director General of ADFD; and other officials from both sides.
H.E. Al Suwaidi stated that this strategic project is a pivotal step towards the progression of Tanzania’s energy sector and ascertaining sufficient electricity supplies to fulfil the population’s needs sustainably.
He added, “The Fund will collaborate with Tanzanian partners to support their development programs and work towards the United Arab Emirates’ future aspirations and the Fund’s strategic objectives of accelerating energy projects globally for the betterment of developing countries’ societies.”
H.E. Dr. Nchemba commended the persistent relationship between the Abu Dhabi Fund for Development and Tanzania since 1977, which has played a significant role in executing development projects and contributing to economic and social progress in the country.
He discussed that the project’s financing will minimise energy import dependency, stimulate economic activities, develop existing industries, and generate job opportunities.
Earlier, the Abu Dhabi Fund for Development financed six development projects in Tanzania, including the Kidaho-Uvinza Road and the Kagera Sugar Project. These projects have crucially contributed to the development process and upgraded the quality of life for Tanzania.
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