Financing by several development partners had been approved to increase the capacity of the Port of Dar es Salaam, Tanzania, to 25 million tons over the next seven years, the World Bank reported on Sunday.
The World Bank, the UK’s Department for International Development (DFID) and the Tanzania Ports Authority have approved the contribution of US$345 million, US$12 million and around US$63 million respectively to co-finance activities in the new Dar es Salaam Maritime Gateway Project (DSMGP).
The DSMGP will be implemented as part of the larger investment programme for the overall development of the port, according to a World Bank spokesperson.
“The Port of Dar es Salaam is vital for the economies of Tanzania and neighbouring countries,” said World Bank country director for Tanzania, Bella Bird. “Enhancing its operational potential will boost trade and job creation across the region and reduce the current cost of $200-400 for each additional day of delay for a single consignment.”
Financing provided for the project will be aimed at improving the physical infrastructure of the port – such as the deepening and strengthening of the berths – as well as the construction of a new multipurpose berth, the deepening and widening of the entrance channel and the improvement of rail linkages.
“We hope that these investments will help Tanzania take advantage of the opportunities that trade offers for future growth and prosperity,” added British high commissioner, Sarah Cooke.
