Tanzania: AfDB approves $70.5m for power reform

The African Development Bank (AfDB) board on 20 May approved a loan of $70.5m to finance the Tanzania Power Sector Reform and Governance Support Programme (PSRGSP). The bank said the loan would provide budget resources for the 2014-15 financial year, with the aim of promoting inclusive growth and enhanced economic competitiveness through power sector, economic and financial governance reforms. The $70.5m is part of a $140m loan over three years, and will be followed by $35m for the 2015-16 and 2016-17 fiscal years.