Home ECONOMY TradeMark East Africa to Finance Road Construction

TradeMark East Africa to Finance Road Construction

by biasharadigest

Mombasa County has signed a financing deal with TradeMark East Africa (TMEA), an unfolding that will see the county receive $2.7 million for construction of the Mbaraki – Nyerere road.

Of the total amount, the UK Department for International Development (DFID) will contribute $1.7 million, whereas Denmark’s development co-operation agency (DANIDA) will provide $0.5 million. These two are TMEA’s donors.

Mombasa County will, therefore, provide the remaining $0.4 million.

With everything required in place, design works are expected to be complete by early 2020, followed by a ground-breaking in March 2020. Thereafter, the construction will take about ten months.

Once complete, the project will serve to ease congestion at the Likoni Ferry area, while offering a clear parking bay for trucks awaiting to collect cargo at the oil terminal.

Furthermore, as African Business Communities reports, transport experts have labelled the Mbaraki-Nyerere Road Project a ‘Green-Road Project’, due to the significant reduction of the carbon footprint it will bring forth.

By modernizing this road, cargo will leave the port faster, translating into reduced transport costs and ultimately reduced cost of business in one of the leading ports in the region. Further, by providing a safe and adequate parking bay for trucks in the area, we will eliminate roadside parking, which itself contributes to traffic congestion.

TMEA Country Director, Ahmed Farah.

TradeMark East Africa is a multi-purpose donor funded, not -for-profit Aid for Trade organisation, established to support the growth of trade – both regional and international – In East Africa. It is funded by the development agencies of the following countries: Belgium, Canada, Denmark, Finland, Netherlands, Norway, UK, and USA. It also works closely with East African Community (EAC) institutions, national governments, the private sector and civil society organisations.

See Also:

TradeMark East Africa and Central Corridor Transit Transport Facilitation Agency Sign Financing Agreement

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