Tanzanian budget to get $190M World Bank help

The World Bank approved $190 million in budgetary support for Tanzania for the 2007-2008 financial year, two days after the British Department for International Development released $239 million in similar funding. Tanzanian Finance Ministry Permanent Secretary Gary Mgonja said that “the money will be disbursed before September this year” or as soon as the documentation for the concessional loan is completed. World Bank Country Director Judy O’Connor noted the positive movements the government has made towards economic growth, citing improvements in agriculture, health, education, business climate, and market access for the rural population. The General Budget Support for Tanzania, 80 percent of which consists of foreign aid, soared to $600 million in this year, up from $277 million in 2002-2003. It is poised to get $42 million in World Bank assistance for another project in Zanzibar.

Source: Tanzania: World Bank to Aid Country’s Budget (East African Business Week)

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