World Bank pledges continued support for devt projects in Tanzania

The World Bank has pledged continued support to Tanzania in financing the east African country’s development projects.

A statement by the Ministry of Finance and Planning revealed on Monday that the pledge was made by the newly appointed World Bank Vice President for Eastern and Southern Africa, Victoria Kwakwa, when she held talks with the Minister for Finance and Planning, Mwigulu Nchemba, in the commercial capital Dar es Salaam.

According to the statement, Kwakwa said the World Bank has been impressed with Tanzania’s determination in putting in place huge investments in agriculture, livestock and fisheries.

“Tanzania’s transformation in the agriculture, livestock and fisheries sectors deserves support in financing and technical advice from the bank and other development partners,” said Kwakwa.

The World Bank support to Tanzania is channeled through the International Development Association and is currently comprised of 24 national projects with a total net commitment of 6.1 billion U.S. dollars.

Six regional projects with a net commitment of 780 million U.S. dollars are involved, according to data from the World Bank.