Having an official meeting with President Jakaya Mrisho Kikwete and taking part in other meetings with high level Government officials, Diop will also attend the event marking 50 years since the first World Bank project for Tanzania was approved by the Bank’s Board of Executive Directors.
The anniversary event, which is to be held on Friday July 3, will also be graced by President Kikwete and will feature a panel discussion on ‘The Future of Development Finance in Tanzania’. The 7th Tanzania Economic Update titled, ‘Why Should Tanzanians Pay Taxes?’ will be presented under this context.
During his visit, Diop will also tour the Port of Dar es Salaam to assess developments since the signing of a Memorandum of Understanding in September 2014 between the Government of Tanzania and the World Bank, the UK Department for International Development and Trademark East Africa, the regional trade facilitation organization, in which the parties committed to specific areas of cooperation in implementing various reforms at the Port.
Dar es Salaam Port is already benefiting from logistical improvement support through the $300 million World Bank-financed Dar es Salaam Intermodal and Rail Development Project that was approved in April 2014 and which aims to improve the country’s rail and transport infrastructure in order to boost intra-regional trade with landlocked neighbors.
However, more support for the Port is also planned to be channeled through the US$565 million Dar es Salaam Maritime Gateway Project which will be a mixture of loan, credit, and grant from the three development partners, with the World Bank contributing $350 million. This financing is earmarked for major works that will include the deepening and strengthening of berths 1-7 and the dredging of the entrance channel and turning basin in the port, thus ultimately contributing towards the Port’s improved effectiveness and efficiency.
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