NAIROBI Nov 30 The African Development Bank
Group and Tanzania's CRDB Bank Plc signed a $120
million loan agreement on Wednesday to finance infrastructure
projects and give credit to small and medium size businesses in
Tanzania, a press release said.
"The loan will support infrastructure development,
particularly the power and transport sectors, which is a major
constraint for Tanzania's economic diversification and growth,"
the statement said.
Tanzanian President John Magufuli, nicknamed "the Bulldozer"
during his previous stint as public works minister, is keen to
expand the country's infrastructure and has launched a revenue
drive to fund new roads, bridges and electricity infrastructure.
An estimated 40 percent of Tanzania's population of around
47 million has access to electricity, according to official
figures. The government wants that to rise to 85 percent by
(Reporting by Katharine Houreld; Editing by Alison Williams)