World Bank Grants Zambia, Tanzania $270m To Improve Transport, Trade Connectivity

233
The World Bank has given Zambia and Tanzania a 270-million-U.S.-dollar grant to help improve transportation and trade connectivity.
Achim Fock, the World Bank Country Manager for Zambia, said in a statement that the project is a significant commitment to regional trade and transportation.
According to him, the grant will help to improve transportation and trade connectivity along the Dar es Salaam corridor between the two countries as part of the six-year Transport Corridors for Economic Resilience project.
He said the transport corridors would improve the efficiency, connectivity and climate resilience of key regional transport and trade corridors in eastern and southern Africa.
“By focusing on strategic improvements and climate resilience, we hope this will pave the way for a more robust and sustainable economic future for Zambia and its neighbors.
“The transport and logistics sectors are expected to experience a boost from targeted activities aimed at institutional and sectoral capacity building,” he said.
According to the statement, the project is expected to benefit 2.5 million people in Zambia.
It added that the project would rehabilitate the Serenje-Mpika section of the corridor, develop a one-stop border post at the Nakonde, a town on the border with Tanzania.
It would also address the challenges of inadequate trade and transport facilitation systems, it said.

Comments are closed.