The Development Bank of Southern Africa (DBSA) and the Tanzanian Investment Bank (TIB) have partnered to finance several Tanzanian infrastructure projects.

The partnership will pay for the rehabilitation of berths one to seven at Dar es Salaam port and also parts of Mtwara port. It will also pay for the construction of the new Mwanza and Arusha airport terminals, as well as projects in the water and energy sectors.

The joint fund is expected to enable Tanzania Railways Limited to transport over three million tons of goods per year and allow Tanzania Airport Authority to double its handling capacities for both Mwanza and Arusha airports.

“We have come to realise that dependence on government budget will not enable us to achieve our objectives in the short term. We welcome the efforts made by the two financial institutions that will enable the transport sector to meet its long term objectives and also enable the Ministry accomplish its projects,” says Tanzanian transport minister Dr Harrison Mwakyembe.

DBSA Chief Executive Patrick Dlamini says the bank is proud to partner with TIB in development of innovative financing solutions to fast-track infrastructure development.