Kenya-Tanzania connection partial funding found

A large chunk of the funding required for the improved road connection between Kenya and Tanzania has now been sourced. The African Development Bank (AfDB) will provide US$300 million of the financing required for the project. However the remaining $485 million of funding necessary still remains to be secured.
October 13, 2017 Read time: 1 min
A large chunk of the funding required for the improved road connection between Kenya and Tanzania has now been sourced. The 1586 African Development Bank (AfDB) will provide US$300 million of the financing required for the project. However the remaining $485 million of funding necessary still remains to be secured. The AfDB is looking for an additional investor to assist in providing the remaining sum required. The funding package from the AfDB board will take until mid-2018 to finalise. Construction work is planned to commence at the end of 2018. The new route will connect Malindi in Kenya with Bagamoyo in Tanzania and will measure 445km in all. Upgrade work will be carried out to improve the 215km of surfaced road in Kenya while the 230km of gravel road in Tanzania will benefit from an asphalt surface as part of the improvement works.
Finance & Funding

For more information on companies in this article

Related Content

  • East Africa drives towards road tolling
    March 18, 2016
    Road tolling is increasing in East Africa as the region’s countries expand highway networks - Shem Oirere writes. The drive towards road tolling in East Africa is gaining momentum. Uganda appears to have broken ranks with its neighbours to make huge strides in achieving progress with this innovative road financing plan. Road tolling has hitherto has been held back in East Africa for lack of political goodwill and State bureaucracies. Kenyan government officials have made announcements on planned road tollin
    Read More
  • Costa Rica road projects moving forward - slowly
    July 18, 2017
    Costa Rica is moving ahead with a series of major road projects, but progress is proving slower than anticipated or desired. The Costa Rica Government is struggling to achieve satisfactory progress with its overall road improvement programme. So far the key focus has been on maintaining existing links rather than building and improving road connections. The country’s National Laboratory for Structural Material and Models (Lanamme) has produced a report revealing that 85% of the national roads are in accepta
    Read More
  • Kenya road upgrade with asphalt surfacing
    February 12, 2018
    An upgraded road link will provide improved transport connections for the towns of Ikutha, Mutomo, Kitui, Kabati and Migwani in Kenya. The road is now being surfaced with asphalt along its length, with the work costing US$182 million. This road stretch connects with the main Nairobi-Mombasa highway at Kibwezi and will provide a much needed transport upgrade for the towns it serves. The work is being carried out on Route 87 from Kibwezi to the junction at Katheka, and then along the C94 to Migwani. The C94
    Read More
  • New Chile-Argentina tunnel project to open for bids
    April 19, 2016
    The bidding process for the Agua Negra Tunnel project that will link Chile with Argentina looks set to commence in July or August 2016. The bidding is being organised jointly by the governments of both Chile and Argentina. One source of funding for the project is also now secured, with a loan of US$1.5 billion being provided by the Inter-American Development Bank (IADB). In addition the IADB has also approved $20 million in funding for Chile and Argentina to finance the project's environmental impact studie
    Read More

Highlighted Content