World Bank assures Tanzania continued support to funding development projects

World Bank
World Bank

The World Bank on Monday assured Tanzania continued support to funding the east African nation’s development projects aimed at reducing poverty and improving economic growth.

The assurance was made by Bella Bird, World Bank’s Country Representative for Tanzania, Burundi, Malawi and Somalia, during talks with President John Magufuli at State House in Dar es Salaam.

“The World Bank plans to continue giving Tanzania soft loans for financing development projects aimed at improving economic growth and alleviating poverty,” said Bird.

A statement from the Directorate of Presidential Communication said Bird mentioned areas to receive World Bank funding as infrastructure including roads and railways, production and distribution of electricity, information, communication and technology, and education.

She mentioned other areas as health, improving water availability, land management, financial management and supporting poor families.

The World Bank official praised President Magufuli for sound implementation of development projects supported by the bank.

“In 2016, the World Bank issued loans to the tune of 1.2 billion U.S. dollars to Tanzania, and we are happy the way the money has been spent on financing development projects,” said Bird.

For his part, President Magufuli thanked the World Bank for its support saying loans given to Tanzania will be used for development projects only.

In April 2017, the World Bank said with strong and consistent growth rates of 6-7 percent, Tanzania has outperformed its east African neighbors of Kenya and Uganda. Enditem

Source: Xinhua/

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