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FINANCIAL NEWS
Kuwait offers USD34m loan for Tanzanian Water Supply project
12 Oct 2014
(MENAFN) The Kuwait Fund for Arab Economic Development (KFAED) announced it has signed an agreement with Tanzania to assist the financing of the Potable Water Supply in the districts of Same and Mwanga Project with USD 34 million loan, KNA reported.
The project, which aims at supporting the socio-economic development in districts Same and Mwanga in Kilimanjaro Region in Tanzania through improving the health conditions of the people of these districts, is expected to provide safe potable water to the local populations.
The project is set to include the civil and electrochemical works required for developing the potable water supply system for the project area, as well as a pumping station and transmission pipeline, water treatment facility, treated water transmission pipelines, potable water storage reservoirs, booster pumping station, and distribution networks, with an expected date of completing in the end of this year.
The project’s total cost is estimated at about USD179.89 million, of which 19.21 percent of the total cost of the project will be covered by the Kuwaiti loan and another loan by the Arab Bank for Economic Development in Africa (BADEA) is set to finance 12.43 percent of the total cost of project with two loans in total value of USD 22 million.
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