Posted on :Friday , 17th November 2017
With the African Development Bank (AfDB) looking for financial partners capable of investing US $385.2m towards the construction of the highway connecting Kenya and Tanzania, construction work on the US $751.3m Kenya-Tanzania Highway is set to begin in 2018.
According to AfDB Chief Regional Program Officer, Lawson Zankli, US $289m has already been set aside for the construction of the long awaited Malindi-Bagamoyo highway and the search for a financial partnership to meet the budget deficit is underway. “We are looking for partners to bridge the remaining US $467.2 required to complete the transnational highway,” said Mr. Zankli.
The 445km Malindi-Bagamoyo highway begins from Malindi and moves through Mombasa and Lunga Lunga on the Kenyan side after which it will cross into Tanga, Tanzania via Pangani and Saadani to Bagamoyo. The transnational highway project includes the reconstruction of the 250km Malindi-Lunga Lunga road as well as upgrading the 175km section that connects Tanga to Bagamoyo. The construction of the highway is expected to kick-start late next year, and the project is expected to be completed within 36 months. The new road is expected to boost tourism and trade along the Indian Ocean coast.
“The improved infrastructure will help in easing movement of tourists along the Kenya-Tanzania coastline,” added Zankli. AfDB, whose current portfolio in Eastern Africa totals an estimated US $8.7bn is a key player in the regional transport infrastructure sector.