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Agreement has been reached for the financing of the Songo Songo project in Tanzania. According to the World Bank the soft financing deal through the International Development Association will catalyse foreign private investment.
The project will establish Songas, a majority privately owned and managed gas and power utility; set up a joint venture, private sector consortium between PanAfrican Energy Tanzania and the Tanzania Petroleum Development Corporation; encourage increased access of the poor to electricity supply; and assist the government in capacity building in the ...