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World Bank’s IDA Lends Tanzania $583 Million for 3 Projects

Discussion in 'Biashara, Uchumi na Ujasiriamali' started by Invisible, Jun 3, 2010.

  1. Invisible

    Invisible Admin Staff Member

    Jun 3, 2010
    Joined: Feb 11, 2006
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    The World Bank’s International Development Association agreed to lend Tanzania $583 million for projects aimed at improving education, transport and cities.

    The IDA, which offers interest-free credit and grants to the poorest countries, will provide $150 million for a secondary education development program which aims to upgrade facilities and provide mathematics, science and language teachers, John Murray McIntire, country director for Tanzania, Uganda, and Burundi, said in an e-mailed statement.

    The IDA will make $163 million available to improve basic services in seven cities. Denmark is contributing a further $12.5 million to this project.

    The IDA is providing $270 million to a five-year program to rehabilitate 270 kilometers (168 miles) of roads and expand airports in Bukoba, Kigoma and Tabora.

    Written by Wilfred Mwakalosi in Dar es Salaam
    Bloomberg - June 1, 2010