The World Bank has approved two financing programs for Tanzania totaling 775 million U.S. dollars, the bank said in a statement on Wednesday.
The statement said the new International Development Association financing consists of a 500 million dollar credit for the first Tanzania Inclusive and Resilient Growth Development Policy Financing and a 250 million U.S. dollar credit plus a 25 million U.S. dollar grant for the Tanzania Maternal and Child Health Investment Program.
It said the Tanzania Inclusive and Resilient Growth Development Policy Financing is the first in a series of two operations to support policy and institutional reforms critical to unleashing private sector growth, increasing transparency, boosting Tanzania’s risk management capacity, and building economic resilience against future shocks driven by climate change and other external factors.
The second financing package of 275 million U.S. dollars for the Tanzania Maternal and Child Health Investment Program will help the country improve the quality of essential healthcare services and scale up delivery, said the statement.
The primary beneficiaries of this financing are women of reproductive age, adolescents, and children under the age of five, including newborns and infants, the statement said.
“The World Bank is putting its full support behind policies aimed to ensure a robust private sector-led recovery that will help the country reach its economic potential, while also making growth more inclusive and resilient to future shocks,” said Nathan Belete, World Bank country director for Tanzania. Enditem
