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

  • Kiribati sees road infrastructure upgrade
    March 2, 2016
    Kiribati is benefiting from major improvements to its road infrastructure. Funding for the road development programme has been provided jointly by the World Bank, the Asian Development Bank (ADB), and the Australian Government. The improved road network on South Tarawa will help boost safety and economic development. The road is a vital shared communal asset for 50,000 people, the entire population of South Tarawa, as it is the lone vehicular transport route on the atoll. The project is seeing the upgrade o
    Read More
  • Serbia-Bosnia highway project funding being secured
    August 30, 2019
    The necessary financing package for Serbia’s key highway project is now being secured. The Belgrade to Sarajevo highway is already under construction, with 60km of the link having been built so far. The existing section of the highway connects Obrenovac with Ljig, while work on the southern stretch of the route is due to commence shortly. Serbia has taken loans worth €3 billion for its share of the project, with the Turkish Government and various Turkish banks being directly involved in supporting the works
    Read More
  • Cameroon road construction project
    October 25, 2019
    The plan for a major new road project has been agreed in Cameroon. The 357km Ring Road project will connect Cameroon with neighbouring Nigeria. Part of the funding for the work is being provided in the shape of a loan worth US$20.7 million from the African Development Bank (AfDB). In all the project is costing $251.5 million. Only a 60.5km stretch between Ndop and Kumbo has been completed, with delays having been caused by instability in the region. However the new road will help transport and trade between
    Read More
  • Colombia’s massive highway programme is moving forward
    June 13, 2017
    Colombia is pushing ahead with its 4G road development programme. Progress is being made with the construction of the Girardot-Honda-Puerto Salgar road connection, which is expected to cost US$518.6 million and is around 37% complete.
    Read More

Highlighted Content