President John Magufuli unhappy with loans condition but assures that they can repay the money.
President John Magufuli is unhappy with the loan condition set by some multilateral financing agencies. According to him Tanzania has the resource to pay, but that the loan is getting to much.
The President made the statement during the launching of a major water project and sanitation projects in Arumeru district. The project was the laying down of a foundation stone for a Sh520 billion water project in Arumeru.
Tanzania’s President John Magufuli said AFDB has less strict terms which has seen more development in the nation. He also said they have been focal towards the development of the nation economy.”
During the laying of the foundation stone, the President also call for more support from other multilateral financing agencies. According to him, Tanzania has only 50% of its population having water supply.
Meanwhile, this project will more than triple the water supply to the fast expanding Arusha city. This expansion will produce 200 million litres of water a day when the project is complete in 2020 with the current production which stands at 40 million litres.
The President during his address said that the government will continue to support project which will help boost the nation water supply. He also said this projects will help residents of the semi-arid Sengerema, Ukerewe, Tabora, Igunga, and Nzega districts.
We know that water is vital because without it some economy can be frustrated. This is why President John Magufuli will continue to solicit for funds but the only challenges are the increase rate of the loan.
Recently, Indian government and the World bank has pledge Sh1 trillion and Sh 800 billion respectively for water supply projects and other related projects. He also assures the public that the government has the resource to pay the loans.
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