World Bank approves $225 million loan for Tanzania's water sector

World Bank approves $225 million loan for Tanzania's water sector The World Bank's board of executive directors has approved a $225 million loan to Tanzania to improve water supply in the African nation's commercial capital Dar es Salaam, the bank said.     Tanzania plans to raise $900 million in fiscal year 2016/17 to fund public investment projects in the transport, energy and water sectors. Loans and grants are an important source of foreign exchange for east Africa's second-biggest economy.    "Dar es Salaam currently accounts for 40 percent of the urban population or 4.4 million inhabitants ... and is expected to continue to be the favored destination for the bulk of new urban residents," the bank said in a statement late on Thursday. The bank said the new financing, which is expected to benefit close to 2 million people, will support the strengthening of capacities for integrated water resources planning and management in Tanzania and improve access to water supply and sanitation services.