AfDB lends Tanzania $29.8m for natural gas developments

The African Development Bank (AfDB) has approved a $29.8-million loan to Tanzania to help the country mobilise domestic resources and unlock the potential of its natural gas resources through leveraging domestic markets and local content initiatives. The project will help Tanzania “capture the best value from its natural gas resources through a sound regulatory framework to manage natural gas reserves and to attract investment, as well as support the government negotiations teams to ensure the country gets the best deals and [contribute to the formulation of] local content policies to create jobs in the gas sector,” the AfDB said in a statement.