Transport project in East Africa to be given $30m
27 June 2011
A transport project in East Africa has been given an investment boost of $30 million (£18.29 million).
The World Bank has agreed to additional financing for the East Africa Trade and Transport Facilitation Project.
Its executive board of directors decided to approve the fund as the initiative is aimed at boosting transport services across the region.
Kenya, Rwanda, Tanzania and Uganda will benefit from improved networks individually, as well as having access between the nations eased.
This will help advance trade across the borders and boost the "efficiency and reliability of transport and logistics services along the key corridors", according to the World Bank.
Last week, it gave its go-ahead for additional financing to be given to the Transport Sector Development Project in Uganda.
The group announced $75 million will be invested in building the Kamwenge-Fort Portal road, in addition to being used to improve other highways in the country.