Japan has granted 1.86 billion yen ($24.2 million) to Tanzania for the construction of a bridge linking the country with its neighbour Rwanda to help boost trade across the bloc, Tanzania Finance Minister, Mustafa Mkulo said on Monday at the Tanzania’s capital Dar es Salaam.
The East Africa’s second largest economy, one of Africa’s biggest per capita aid recipients increased infrastructure spending in its 2011/12 budget by 85 percent to 2.78 trillion Tanzanian shillings ($1.71 billion).
According to Minister Mkulo, the construction of the Rusumo international bridge and one-stop border facilities between Tanzania and Rwanda is expected to be completed within a period of two years.
Mkulo added that the construction of the two-lane bridge and border facilities would boost trade between the two member states of the East African Community (EAC) trade bloc.
“Construction of the Rusumo international bridge to replace the existing one built some 40 years ago will enhance regional integration and facilitate increased trade between Tanzania and Rwanda,” he noted.
Japan’s Ambassador to Tanzania, Hiroshi Nakagawa, pointed out in a joint press conference with Tanzania’s finance minister that;”This project will contribute to an efficient logistics network between Tanzania and Rwanda and will most certainly have a positive effect on the economic development of both nations.”
This Financial aid from Japan according pundits on international relations between developed and developing nations is a warning by the emerging economic giants from the far East; China, Japan and Korean states to USA, France and Britain that sooner than later, their Lion’s share in economic superiority will up for grabs.
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