- Pakistan is considering investing $1 billion in Tanzania’s water and power supply.
- The Tanzanian government is placing more emphasis on renewables for the national electricity mix.
The Islamic, federal and multiparty Republic of Pakistan intend to invest $1 billion in Tanzania. The money will hasten the completion of various projects in the nation of East Africa, particularly in trash, power, and water.
According to Shaidi Majeed, head of the TPBC, Pakistan would raise funds over five years to assist Tanzania in its attempts to offer water, power, and waste management.
According to the Pakistani embassy in Tanzania, $490 million had already been given to the Tanzanian government as of 2020. Thus, the $1 billion loan will expand its financing base in the nation of East Africa.
The Tanzanian government is placing more emphasis on solar and hydroelectricity to diversify the nation’s electrical mix. Tanzania’s energy production is 66% dependent on natural gas and oil, according to a 2015 International Energy Agency (IEA) assessment.