DR. WILLIAM AUGUSTAO MGIMWA (MP), MINISTER FOR FINANCE AT THE SIGNING CEREMONY OF THE LOAN AGREEMENT BETWEEN THE GOVERNMENT OF THE UNITED REPUBLIC OF TANZANIA AND THE OPEC FUND FOR INTERNATIONAL DEVELOPMENT (OFID)

Dr. Wiliam Mgimwa signing a treaty

Suleiman Al-Herbish left and Dr. Wiliam Mgimwa discussing something before loan treaty signing

STATEMENT BY HON. DR. WILLIAM AUGUSTAO MGIMWA (MP), MINISTER FOR FINANCE AT THE SIGNING CEREMONY OF THE LOAN AGREEMENT BETWEEN THE GOVERNMENT OF THE UNITED REPUBLIC OF TANZANIA AND THE OPEC FUND FOR INTERNATIONAL DEVELOPMENT (OFID), HELD AT WASHINGTON DC ON 20TH APRIL, 2013. 

 

Mr. Suleiman J. Al-Herbish,
Director General,
The OPEC Fund for International Development,
Distinguished Guests,
Ladies and Gentlemen:

INTRODUCTION

Mr. Director General, 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 for the Orkesumet Water Supply Project, through which the OPEC Fund For International Development (OFID) will extend to the Government of Tanzania a loan amounting to USD 8.0 Million; equivalent to TZS 12.92 Billion.

Mr. Director General, the total cost of the Orkesument Water Supply Project amounts to USD 18.42 million. It is encouraging to note that OFID has agreed to provide USD 8.0 million to co-finance the project with the Arab Bank for International Development (BADEA) – USD 8.0 million, along with the contribution of Government of Tanzania of USD 2.42 million. 

Indeed, the Government appreciates this timely support which will boost the government efforts to provide safe water to residents of Orkesumet Township. This loan once again, demonstrates the important relationship between OFID and Tanzania. I want to take this opportunity, on behalf of the Government and people of Tanzania, to express our gratitude for your continued support.

Mr. Director General, the Orkesumet Water Supply Project seeks to improve the provision of potable water to the different communities in and around Orkesument Township. Successful implementation of this project will contribute in raising the ratio of the population that has access to clean and safe drinking water in the project area. The project is expected to contribute to the improvement of the local economy and to the well being of the population in the project area and will have a significant contribution to improving the living standards of the people.

Mr. Director General, the preparation of this Loan document has involved many people and long hours of hard work. On behalf of the Government of the United Republic of Tanzania, allow me to thank you personally for your efforts in ensuring that the process was concluded on time. I would also like to thank those who worked so hard and made it possible for this agreement to be signed today. It is my sincere hope that this spirit of hard work and partnership is going to be sustained.

Finally, let me conclude by re-affirming our commitment to sustaining reforms in order to achieve the targets set in the MDGs and vision 2025. Further, I also want to reassure you of our continued commitment towards strengthening the partnership and friendly relationship between Tanzania and the OPEC Fund for International Development. 

Thank you all once again for your kind attention.

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