The African Development Bank Group and the Government of Tanzania have signed loan agreements totaling US$140 million to finance the construction of the 50-megawatt Malagarasi hydropower plant in Western Tanzania.
The agreements cover a US$120 million sovereign loan from the Bank and US$20 million from the Africa Growing Together Fund (AGTF), administered by the Bank. The funds will be used to construct the plant and an evacuation transmission line, as well as to add 4,250 rural electrification connections, providing reliable renewable energy to households, schools, clinics, and small and medium-sized enterprises in the Kigoma Region.
The Africa Growing Together Fund is a facility sponsored by the People’s Bank of China and administered by the African Development Bank.
