In a ceremony held in Istanbul during the joint meeting of the World Bank and International Monetary Fund, the Arab Bank for Economic Development in Africa (BADEA), signed on Sunday 4th of October 2009, a loan agreement worth US $ 10 million with the United Republic of Tanzania to participate in financing of "Same" and "Mwanga" Districts Water Supply Project.

The loan will be repaid in 30 years, including a grace period of 10 years, and at an annual interest rate of 1%. The project aims at achieving the Government goals of improving the supply of potable water to rural communities to meet their current and future demand, up to the year 2028 and to relief the suffering of citizens to get water, especially for women and children. The project will contribute to the reduction of diseases from using contaminating water, achieve the millennium development goals, and the reduction of poverty.

The agreement signed, on behalf of BADEA, by H.E. Mr. Abdelaziz KHELEF Director General and by H.E. Mr. Mustafa H. Mkulo (MP), Minister of Finance and Economic Affairs for the United Republic of Tanzania.

It is worth noting that BADEA’s total commitments to United Republic of Tanzania amounted to about US$ 138.17 million, by the end of June 2009.