BADEA gives Tanzania US$10m loan for water project

Dakar, Senegal (PANA) - The Arab Bank for Economic Development in Africa (BADEA) has given a US$10 million loan to Tanzania as part funding for the rehabilitation of water supply facilities in the Mara Region Project.

According to the bank, the agreement for the loan was signed in Dar es Salaam, Tanzania, on the sidelines of a recent meeting of the bank's board of governors.

The loan, which is repayable in 30 years, including a grace period of 10 years, has an annual interest rate of 1%.

The project aims to improve and develop water supply to meet current and future demand in the area, and ultimately improve the health of the population and stimulate other development sectors.

The latest loan brings to US$174.74 million the total cost of the bank's assistance to Tanzania.

BADEA, owned by 18 Arab members states of the League of Arab States (LAS), was set up to strengthen economic, financial and technical cooperation between the Arab and African regions and for the embodiment of Arab-African solidarity on foundations of equality and friendship.
-0- PANA SEG 26June2013

26 Junho 2013 11:36:07

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