STATEMENT BY DR. SERVACIUS B. LIKWELILE, PERMANENT SECRETARY, MINISTRY OF FINANCE ON THE OCCASION OF SIGNING A LOAN AGREEMENT BETWEEN THE GOVERNMENT OF THE UNITED REPUBLIC OF TANZANIA AND THE AFRICAN DEVELOPMENT BANK, HELD IN ABIDJAN IVORY COAST ON 27TH MAY, 2015.
Vice President African Development Bank,
Regional Director East Africa Resource Centre
Representatives of ED’s Office
Government Delegation officials
Ladies and Gentlemen:
Mr. Vice President, Please allow me, on behalf of the Government of the United Republic of Tanzania, to express my gratitude for this opportunity of signing with you today, the Loan Agreement through which your Bank will provide UA 50 Million (equivalent to USD 70.5 Million or TZS 137.5 Billion) to promote inclusive growth and enhanced economic competitiveness through power sector, economic and financial governance reforms. This loan will support the implementation of the Government’s reform agenda from the fiscal year 2014/2015.
Indeed, the Government and people of Tanzania appreciate the Bank’s support which will enable the Government to boost efforts to implement energy sector and other related public financial management reforms. In particular, we understand that the project will address the following issues: (i) strengthening the institutional frame work and operational efficiency of the power sector, (ii) enhancing competition and private sector participation in power sector, and (iii) improving Governance through PFM reforms, development initiatives in Tanzania.
Mr. Vice President, the Government of Tanzania appreciates the continued support of AfDB in reforming the energy sector in Tanzania. I note with appreciation that this operation is built on the previous support of USD 58.2 million that was approved by the Board for Tanzania in December 2013, that supported the development of the Electricity Supply Industry Reform Strategy and Road Map which were approved by the Government in late 2014.
Mr. Vice President, the preparation of the documents of this project and approval of the loan by the Board has involved many people and long hours of hard work. I want to thank all those who have worked so hard to make it possible for this agreement to be signed today. Allow me also to thank you personally, Mr. Vice President, for your efforts in ensuring that all processes were concluded timely.
Finally, let me conclude by re-affirming our commitment to the successful implementation of this project. Further, I also want to reassure you of our continued commitment towards strengthening the partnership and friendly relationship that exist between Tanzania and the Bank.
Thank you all once again for your kind attention.
Delivered by: Ingiahedi Mduma
Ministry of Finance-TZ
Abidjan- Ivory Cost
27th May, 2015.