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17 October 2017

Kenya-Tanzania connection partial funding found

First publishedon www.WorldHighways.com
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. 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.

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African Development Bank
www.afdb.org
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