The African Development Bank (AfDB) has signed two loans and three grants agreements totalling 61.50mn units of account (UA), equivalent to US$92mn with Kenya, Tanzania and two East African regional organisations, to finance road infrastructure in the region.


The two projects to be funded with the loans and grants are The East Africa Trade and Transport Facilitation and the development of the Arusha-Namanga-Athi River Road Corridor Projects.


The AfDB emphasises their importance in light of deepening globalisation and the need for African economies to make fundamental adjustments, both on an individual and regional basis.


The two projects, which represent a priority within the Nepad transport programme, address both hardware and the so-called ‘software’ barriers to regional integration such as facilitating movement of people and goods across national boundaries and the provision of physical infrastructure.


The agreements bring the bank group’s total commitment to East African countries, including Burundi and Rwanda to US$5.5bn, covering projects in the economic and social sectors.