World Bank releases $270m to improve Zambia-Tanzania trade connectivity
Published On February 22, 2024 » 611 Views» By Times Reporter » Latest News
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THE World Bank has pumped US$270 million into supporting improvements in transport and trade connectivity along the Dar es Salaam corridor between Zambia and Tanzania.
This is through a six-year Transport Corridors for Economic Resilience (TRACE) project, backed by the US$270 million
International Development Association (IDA) grant aimed to improve effi ciency, connectivity and climate resilience of key regional transport and trade corridors in Eastern and Southern Africa.
Commenting on the development, President Hakainde Hichilema said the World Bank’s grant vindicated his
Government when it advocated pursuing better financing agreements.
‘’This grant to develop our regional economic corridors has little or no interest,’’ President Hichilema said in a message on his Facebook page yesterday.

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