Mathanzua
JF-Expert Member
- Jan 4, 2017
- 15,719
- 20,531
NB:The title should read: A note to the World Bank regarding the cancellation of the US$500 million loan
The World Bank’s postponement or even cancellation of the US$500 million loan to Tanzania have to be viewed as indeed a blessing in disguise.
Historically, the World Bank, the IMF and other multilateral lending agencies have never loaned 3rd World countries with the sole purpose of helping those nations to stand on their own feet.They have not done it before, and there is no reason to believe that they are going to do it today.
When Tanzania and Zambia in the 1970s decided to build the Uhuru Railway(TAZARA), the World Bank, the IMF and Western lending agencies dismissed the project as unviable. But was it?
When Tanzania decided to revive the Mwalimu Nyerere Hydroelectric Dam project in Rufiji, the same Institutions deemed the project unviable and a violation of the United Nations designated World Heritage status of the area. This is very hipocritical,because the same institutions maintain many five star hotels in the area and the same institutions have airports as well as mining Uranium in the same area. Is this not a contradiction?
Today, out of the blues, the World Bank has declined to provide Tanzania
a US$500 million loan for education. Why?
They want us to take the loan and then allow pregnant secondary school pupils to continue with their education,which is synonymous to allowing prostitution in our schools.
The World Bank and the IMF needs to understand that everything in this world has a price; but not everything with a price has to be sold.
Similarly, not every loan or grant needs to be accepted.
The World Bank’s postponement or even cancellation of the US$500 million loan to Tanzania have to be viewed as indeed a blessing in disguise.
Historically, the World Bank, the IMF and other multilateral lending agencies have never loaned 3rd World countries with the sole purpose of helping those nations to stand on their own feet.They have not done it before, and there is no reason to believe that they are going to do it today.
When Tanzania and Zambia in the 1970s decided to build the Uhuru Railway(TAZARA), the World Bank, the IMF and Western lending agencies dismissed the project as unviable. But was it?
When Tanzania decided to revive the Mwalimu Nyerere Hydroelectric Dam project in Rufiji, the same Institutions deemed the project unviable and a violation of the United Nations designated World Heritage status of the area. This is very hipocritical,because the same institutions maintain many five star hotels in the area and the same institutions have airports as well as mining Uranium in the same area. Is this not a contradiction?
Today, out of the blues, the World Bank has declined to provide Tanzania
a US$500 million loan for education. Why?
They want us to take the loan and then allow pregnant secondary school pupils to continue with their education,which is synonymous to allowing prostitution in our schools.
The World Bank and the IMF needs to understand that everything in this world has a price; but not everything with a price has to be sold.
Similarly, not every loan or grant needs to be accepted.