World Bank approves 550m US dollars for education and household projects

WASHINGTON: THE World Bank, through its Board of Directors, has approved 550m US dollars (1.4tri/-) for Tanzania to implement two strategic projects in the education sector and to support poor households.

The bank’s decision was announced by the World Bank’s Vice President for East and Southern Africa, Dr Ndiame Diop, when he met and held talks with a Tanzanian delegation led by the Minister of Finance, Ambassador Khamis Mussa Omar, on the sidelines of the World Bank and International Monetary Fund (IMF) Winter Meetings, at the headquarters of the institutions in Washington D.C., in the United States.

Of the funds, 300m US dollars will be used to support a skills-building education program, especially for youth, and another 250m US dollars will be used to support a program to help poor households through the Community Development Fund-TASAF.

Dr Diop said that the decision follows the strong relationship between Tanzania and the Bank as well as the successful implementation of projects financed by the Bank, and the good management of its economic and financial policies.

The World Bank Vice President promised that the Bank continues to process other strategic projects submitted by Tanzania for Bank financing, including the energy sector, agribusiness, health projects in Zanzibar, and others, to enable Tanzania to achieve its goals in promoting the economy and the lives of its citizens.

Speaking after the meeting, the Minister of Finance, Ambassador Khamis Mussa Omar, thanked the World Bank for approving the two projects, which are important for the country’s development, as well as the productive discussions on areas of important development projects for the country.

“We have also discussed the development of the transport corridor which is also an important issue where we have highlighted how the transport corridor, in which the country has invested a large amount of money, including the SGR railway, can stimulate an inclusive and sustainable economy,” said  Ambassador Omar.

For his part, the outgoing World Bank Resident Representative Nathan Belete said that the meeting between Ambassador Khamis Omar and the World Bank Vice President, Dr Mdiame Diop was very useful and continues to show how the bank values the major economic and social reforms underway in Tanzania.

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“I leave Tanzania with great joy, and I believe that the Bank’s relationship with Tanzania will continue to be strong and the country will continue to be one of the largest economies in the African continent due to its abundant resources” said Belete.

World Bank Investment in Tanzania through the IDA Window has reached 8.96bn US dollars, involving 35 projects, of which 32 projects worth 0.18bn US dollars are national and three projects worth 0.18bn US dollars are regional.

The session was also attended by the Minister for Finance and Planning from the President’s Office-Zanzibar, Dr Juma Malik Akil, the Permanent Secretary, Ministry of Finance and Paymaster General, Dr Natu El-maamry Mwamba, the Permanent Secretary, President’s Office, Planning, who is also the Executive Secretary of the Planning Commission, Dr. Tausi Kida, the Permanent Secretary, President’s Office, Finance and Planning Zanzibar, Aboud Hassan Mwinyi, and other senior leaders of government Institutions.