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IDA pumps 119bn/- into anti-poverty war
2005-09-19 07:36:14
By Guardian Reporter
The International Development Association (IDA), the investment arm of the World Bank, has endorsed 119.4bn/- to Tanzania to finance the country’s Poverty Reduction Support Credit (PRSC).
The disbursement follows the progress recorded in poverty reduction programmes and macroeconomic stability, the Permanent Secretary in the Ministry of Finance, Peniel Lyimo, said in a statement issued yesterday.
PRSC supports the implementation of the national strategy for growth and reduction of poverty (NSGRP) or Mkukuta.
This is the second national organising framework that
considers poverty reduction a priority on the country’s development agenda.
The statement says NSGRP is in line with the country’s development vision 2025 for broad-based growth, high living standards, peace, political stability, good governance and international competitiveness.
’It is therefore committed to the Millennium Development Goals (MDGs), the internationally agreed targets for reducing poverty, hunger, diseases, illiteracy, environmental degradation and discrimination against women by 2015,’says Lyimo in the statement.
The MDGs also advocates for the widening of the political space for effective participation by the civil society and the private sector in development, he says.
The PRSC credit will facilitate investment in infrastructures and social services, particularly primary education, health, water supply and sanitation and rural roads.
According to Lyimo, IDA also serves as a catalyst in the government’s efforts to stimulate private investment responses as a result of improved infrastructure and social services, which are critical in sustaining macroeconomic stability achieved under the proceeding programmes.
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