<p style="text-align: justify;">Jan 30, 2017: The World Bank has agreed to give Tanzania a $305 million loan to expand the port of Dar es Salaam located in the main commercial city.</p> <p style="text-align: justify;">The loan is part of a $785 million loan from the bank that the Tanzanian government is seeking to execute development projects in the east African economy.</p> <p style="text-align: justify;">“The World Bank has agreed to give Tanzania loans for various development projects, including a credit of $305 million for an expansion project at the Dar es Salaam port,” Finance and Planning Minister Philip Mpango said in a statement.</p> <p style="text-align: justify;">The loan deal was announced following talks in the capital between president John Magufuli and MakhtarDiop, the World Bank’s vice president for Africa.</p> <p style="text-align: justify;">In a 2014 report, the World Bank said that inefficiencies at the port was costing Tanzania and its neighbours up to $2.6 billion annually.</p> <p style="text-align: justify;">The port is a trade gateway for land lock countries such as Zambia , Rwanda Malawi, Burundi,Uganda and eastern Democratic Republic of Congo.</p> <p style="text-align: justify;">The Tanzanian government hopes that its capacity will reach 28 million tonnes a year by 2020 from the current 15 million tonnes.</p> <p style="text-align: justify;"><strong>Photo Source: Transport World Africa</strong></p>