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World Bank grants $1.7 bln to Tanzania  

Monday, 15 April 2019 16:57
World Bank grants $1.7 bln to Tanzania  

(Ecofin Agency) - World Bank will provide $1.7 billion to Tanzania, the country’s finance ministry indicated in a release published last weekend.

Many sectors should be funded thanks to the new financing. $400 million will be dedicated to the education sector while $300 million will be used for a poverty reduction programme.

According to the release relayed by Reuters, numerous infrastructure projects will also be funded.

Months ago, World Bank suspended a $300 million financing to Tanzania because of its law preventing pregnant girls from having access to school. 

For some years now, John Magufuli (photo) has initiated an economic diversification strategy based on infrastructure investments. For the 2019-2020 fiscal year, the government plans to increase its budget to $14.3 billion to notably develop road and rail infrastructures and also improve energy supply.

For 2019, the IMF forecasts a 4% growth for the country.

Moutiou Adjibi Nourou

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