10/08/2011 | C. Martin
The Tanzanian government is seeking funds of $525 million (£323 million) to invest in various infrastructure projects during the 2011-2012 financial year in order to attract more tourists to the country, its finance minister said.
Mustafa Mkulo, Finance and Economic Affairs minister, said the government would seek a further $450 million for similar projects, involving road and rail networks, during the 2012-13 period.
Mr Mkulo said: "This shows the level of confidence our investors have in our economy."
Stanbic Bank Tanzania has already agreed to lend $250 million (£153.81million) for the country's five-year development plan, he told reporters in the commercial capital, Dar es Salaam.
Tanzania is trying to improve its infrastructure in the main agricultural, mining and tourism regions.
The African country is popular among holidaymakers as it provides exciting safari holidays with the abundant wildlife and natural resources.
Tanzania has breathtaking national parks like the world-famous Serengeti and the Ngorongoro Conservation Area. Reserves such as Lake Manyara National Park and Tarangire National Park offer glimpses of more than 1,100 recorded bird species.
Copyright Press Association 2011