Kudos for TZ to get 1.27tri/-

Kudos for TZ to get 1.27tri/-

THE World Bank (WB) has approved a financing of 550 million US dollars (around 1.27tri/-) to be used in improving the country's infrastructure.

This came hardly two days after President Samia Suluhu Hassan received the Africa Road Builders–Babacar Ndiaye Trophy 2022.

The WB finance government programmes to support achievement of country development objectives, and support policy and institutional reforms of national and subnational governments by providing budget financing and global expertise.

It also finances public projects to build physical and social infrastructure, and develop institutional capacity. Tanzania achieved that after years of execution of strategic infrastructure projects, such as roads, Standard Gauge Railway (SGR) that is going on.

The money that has been approved through a new International Development Association (IDA) aims to allow Tanzania to unlock critical road and airport bottlenecks, enhance its role as a transit country, and more effectively, leverage its national parks for tourism.

A statement issued by the World Bank country director for Tanzania Ms Mara Warwick has it that the money will help to improve safety, climate resilience and capacity of Tanzania’s roads and regional airports.

This is a milestone To Tanzania and it is worthy to praise the Sixth Phase Government that is headed by President Samia.

The WB has different types of financing. There is investment project financing that provides financing to governments for activities that create the physical/social infrastructure necessary to reduce poverty and create sustainable development.

But there is also development policy financing providing budget support to governments or a political subdivision for a programme of policy and institutional actions to help achieve sustainable, shared growth and poverty reduction.

Programme-for-Results links disbursement of WB funds directly to the delivery of defined results, helping countries improve the design and implementation of their own development programmes and achieve lasting results by strengthening institutions, enhancing systems, and building capacity.

As for Tanzania, the financing  of the projects will be implemented through the Tanzania Transport Integration Project (TanTIP). There will also be an improved capacity of key road corridors and regional airports.

Much of Tanzania's development success over the past decade has been predicated on the critical advantages of its strategic maritime location, its rich and diverse natural resources, its socio-political stability, and its rapidly growing tourism industry.

Investments under this project will contribute to wider government efforts to improve the integration of Tanzania's economy and its connection with its neighbours and global markets, while ensuring adaptability of the infrastructure.

The financing will definitely change Tanzania in terms of infrastructure, as it focuses on three key components that include supporting the upgrading and rehabilitation of about 500 kilometres of roads.

Such roads include the Mtwara-Mingoyo-Masasi (201km), Lusahunga-Rusumo (92km), Songea-Rutukila (111 km) and Iringa-Msembe (104 km). There will also be integrated climate resilience measures to enhance resilience and adaptation of these roads and road networks.

The Bank is also one of the world's largest research centres in development. It has specialised departments that use this knowledge to advise countries in areas like health, education, nutrition, finance, justice, law and the environment.

Investors, come en masse Tanzania doors are opened

WHILE gracing the Tanzania Day ...

Author: EDITOR

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