Home News Tanzania Tanzania gets $2bn to fight poverty

Tanzania gets $2bn to fight poverty

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DAR ES SALAAM, TANZANIA - The Tanzania Government is set to receive $2.8 billion from the World Bank that will cover the development strategies in the country.
The bank said $2.8 billion to the government of Tanzania for the next five years is meant to support government's plans to fight poverty, increase economic growth and improve governance.
Mr John Murray McIntire, World Bank Country Director for Tanzania , Uganda , and Burundi said in a statement that  this new strategy continues the solid partnership between Tanzania and the World Bank.
" It recognizes that Tanzania faces significant challenges due to lack of infrastructure and lack of human capital and it aims to help the country meet these challenges in order to sustain economic growth and to improve the welfare of all Tanzanians,"  McIntire said.
  "In helping to meet these challenges, the World Bank Group will target resources to activities where assistance can be the most effective such as building infrastructure, improving the business environment, increasing agricultural productivity, improving service delivery to build a healthy and skilled workforce, and managing urbanization," he added.
He said that the Country Assistance Strategy (CAS) aligns World Bank Group assistance with Tanzania's own strategic priorities.
  "It also reflects the Bank's Africa Strategy by building on the core partnership with the government to promote economic growth and to protect against economic and other external shocks," said Mr. McIntire.
In promoting Inclusive and Sustainable, Private Sector-led Growth, Mr McIntire said that the Bank will support the government to improve the conditions for the private sector by strengthening the financial sector and by expanding the broadband network.
He also said that to improve income in the agriculture sector, Bank support will include construction of agricultural infrastructure and help farmers to adopt more productive agricultural techniques.
World Bank Executive Directors, in their report said that the Bank Group will assist Tanzania 's development plans through a mix of investment projects, basket funds, and budget support.
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