Bretton Woods Institution determined to provide soft loans to Tanzania

05Dec 2017
The Guardian Reporter
The Guardian
Bretton Woods Institution determined to provide soft loans to Tanzania

WORLD Bank Country Director for Tanzania, Burundi, Malawi and Somalia, Bella Bird yesterday assured President John Magufuli, that the Bretton Woods Institution is determined to provide soft loans for different development projects to spur economy and address poverty in Tanzania.

President John Magufuli chairs a Cabinet meeting at State House in Dar es Salaam yesterday. Photo: State House

Bird made the remarks in Dar es Salaam and identified areas of priority as infrastructures such as roads and railway as well as increase power production, ICT, and education.

Other areas include improving health, availability of water, better land management, communication and inclusive financial services as well as assisting poor families.

The World Bank official commended President Magufuli for better management of development projects particularly those implemented with the financial support from the bank and pledged that the Bretton Woods Institution to work closely with the Tanzanian government in other development projects.

Last year, Bird said that the bank issued 2.7trillion/- loans to Tanzania for different projects which are going well.

For his part, President Magufuli commended the World Bank for extending more support to Tanzania, assuring the bank official that his government will ensure the money is wisely spent.

“I commend the World Bank for the support, I am happy to see that you continue to bring-in more money which are for development projects with positive and sustainable impacts,” President Magufuli said.

Meanwhile, President Magufuli yesterday chaired the cabinet meeting at the State House in Dar es Salaam.

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