Tanzania reaps ‘big’ from international forums

PARTICIPATION of Tanzania in international forums has enabled the East African State to create a number of economic opportunities for development of private and public sectors.

Such opportunities are capital generation, increased investments, expansion of markets for local products and various crops as well as increased number of tourists from abroad.

Deputy Minister for Foreign Affairs and East African Cooperation Ambassador Mbarouk Nassor Mbarouk revealed this when reacting to a question posed by Special Seats MP Neema Rugangira (CCM) who sought to know benefits that the country has gained from its participation in the international forums.

Tanzania has also managed to secure grants and soft loans for execution of various development projects as well as creating opportunities for capacity building programs for Tanzanians experts, lawmakers were informed.

He specifically pointed out that President Samia Suluhu Hassan’s abroad visits enabled the country to secure a soft loan amounting to 1.3tri/- that was spent on mitigating the effects of Covid-19.

Moreover, the World Bank, according to the Deputy Minister, has set aside a total of 4.8tri/- for implementation of development programmes for the financial year 2023/24 and 2024/25.

The International Fund for Agricultural Development (IFAD), according to the Ministry, has allocated 58.5 million US Dollars for agricultural projects for the year 2021/2022.

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