STATEMENT BY HON. SAADA M. SALUM (MP), MINISTER FOR FINANCE OF THE UNITED REPUBLIC OF ON THE OCCASION OF SIGNING OF THE AGREEMENT BETWEEN THE GOVERNMENT OF TANZANIA AND KOREA EXIM ON 2ND SEPTEMBER, 2015 FROM 2.00 PM IN

Mr. Yim Seong-hyeog, Executive Director of Korea, Mr. Kim Chang-Seok, Chief Representative, EDCF Dar es Salaam Representative Office, Members of Korean Delegation, Government Officials, Member of the Press, Ladies and Gentlemen:

1. Mr. Yim Seong-hyeog, it is a great pleasure again for me to have signed with you today, the loan Agreement under which the Government of the United Republic of Tanzania will access the concessional loan from the Exim Bank of Korea for the Construction of New Selander Bridge. The Loan Agreement we have just signed today will enable the Government of Korea to make available the funds amounting to USD 91.032 million, equivalent to TZS 154.39 billion for procurement of goods and services necessary for the implementation of the project.

2. I am pleased to note that, the funds provided under this agreement, will finance the implementation of the following activities:

 Construction of bridge with total length 1.03km crossing the Indian Ocean on the east of Dar Es Salaam.  Widening of the existing road (4.52km, from 2 to 4 lanes) and construction of new road (0.68km) to connect Central Business District region to Msasani region around the bridge.  Supervision of the Project construction  Detailed Design  Support for construction bidding

3. Mr. Yim Seong-hyeog , The successful implementation of this project will enable our country to achieve the following objectives;

 To mitigate the chronic traffic congestion along the Ali Hassan Mwinyi road, hence improve economic activities in Dar es Salaam.

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 To promote balanced development of regions and improvement of infrastructure by construction of a road to connect the northern and southern areas of Dar es Salaam.  To become a tourist attraction by construction of a bridge on the coastal road abutting on the Indian Ocean.

4. On behalf of the Government of the United Republic of Tanzania I wish to thank you personally Mr. Yim Seong-hyeog for your personal efforts to make the signing of this Loan Agreement to happen today. I would also like to thank through you, the Government of the Republic of Korea for providing this assistance timely. This assistance reflects the cordial relationship that exists between our two countries.

5. Mr. Yim Seong-hyeog, I understand that, the total cost of the project is estimated to be USD 110. 033 million equivalents to TZS 186.6 billion of which USD 91.032 million (82.7 percent) equivalents to TZS 154.39 billion will be provided as a concessional loan from Korea Exim Bank and USD 19.001 million (17.3 percent) equivalent to TSZ 32.23 billion will be provided by the Government of Tanzania.

6. I am equally delighted to note that, this is not the first time for the Government of the Republic of Korea to extend concessional to the United Republic of Tanzania. Currently, the value of ongoing and completed projects in Tanzania that have been financed by the Republic of Korea through concessional loans stands at USD 363,980,883. Some of these projects are as follows:

 Vocational Training Centers Establishment 18,000,000

 Malagarasi River Bridge & Associated Roads 25,000,000

 Kilimanjaro- Transmission Line (TEDAP) 25,000,000  Construction of MUHAS Medical Centre (1st phase) 49,500,000  Improvement of Water Supply System in Town 49,623,000  -shinyanga Backbone Transmission Investment(BTIP) 36,416,000

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 MUHAS Medical Centre Equipment Supply(2nd Phase) 27,000,000

 Construction of Zanzibar Irrigation Infrastructure 50,000,000  Malagarasi River Bridge & Associated Roads(Supplementary Loan) 29,141,883  Construction of Data Centres for NIDA 54,300,000

7. Mr. Yim Seong-hyeog, the Government of Tanzania values your Government’s continued support to our efforts in the improvement of our transport sector, road in particular. I am confident and would like to assure you, Mr. Executive Director that the assistance provided under this loan agreement we have just signed will be prudently used in order to make more progress in the transport sector.

8. Mr. Yim Seong-hyeog, I would like to take this opportunity to reaffirm the Government’s commitment towards implementation of this project. I want to assure you that, the Government will make close monitoring to ensure that the quality of work meets the acceptable professional standards.

9. Ladies and Gentlemen, Let me conclude my short statement by re-affirming our Government’s commitment to maintain and promote further, the partnership and friendly relationship which exists between the Government of the United Republic of Tanzania and the Government of the Republic of Korea.

THANK YOU FOR YOUR ATTENTION MINISTRY OF FINANCE DAR ES SALAAM 2ND SEPTEMBER, 2015

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