TEDAP Credit Line On-LendingRate
The Government of the United Republic of Tanzania has secured additional financing from the World Bank under the Tanzania Energy Development and Access Expansion Project (TEDAP) to be utilized as a credit line for rural/renewable energy development. The overall objective of TEDAP is to improve the quality and efficiency of electricity service provision and establishing a sustainable basis for renewable energy development and energy access expansion in Tanzania. TEDAP’s additional financing would therefore provide local banks with long-term funds for financing the small renewable rural energy projects.
Tanzania Investment Bank Ltd (TIB) has entered into Financial Management agreement with the Rural Energy Agency (REA) to administer the said credit line on behalf of the Government.
On behalf of the Government, Tanzania Investment Bank Ltd would like to announce the current Credit Line On-Lending Interest Rate to local banks which is 7.83% effective from 21st July 2012.