The Tanzanian government has received Tsh1.4 billion ($599,000) from the International Standard Chartered Bank Ltd which will be used to maintain the environment along the construction line of the third and fourth phases of its standard gauge railway (SGR).
Tanzania Railways Corporation’s Director-General Masanja Kadogosa Tuesday said that the money would be used to maintain the ecology along the line through which the SGR line passes between Makutupora and Tabora then to Isaka, covering 427 kilometres.
The TRC boss told a press conference that the amount given as grant is part of the $1.7 million which the government had sought from the bank during the 2022/23 financial year to pay people who have been displaced to pave way for the construction of the SGR.
This is in line with the bank’s engagement with its stakeholders aimed at championing various development initiatives including conservation of the environment under its programme which promotes green economy in Tanzania.
Earlier, the bank launched its sustainability report titled 'Here for Good: A Sustainable Future for Tanzania' that showcases its contributions to social, commercial and environmental opportunities, creating stakeholder value and driving commerce and prosperity through unique diversity.
“This report demonstrates ways in which sustainability practices can drive economic growth, improve the well-being of communities, and protect the environment for future generations,” said Standard Chartered Bank Tanzania CEO Herman Kasekende.