APO

OPEC Fund Extends $ 50 Million for Poverty Reduction in Tanzania

Published

on

The OPEC Fund for International Development (the OPEC Fund) (https://OPECFund.org) has signed a US $ 50 million loan with Tanzania to finance the ‘Fourth Tanzania Poverty Reduction Project’. The project will build rural infrastructure to boost economic opportunities and improve access to social services for more than 900,000 people.

Although Tanzania has made progress in reducing poverty over the past decade, around 26 million people, about half of the total population, live on less than $ 1.90 a day. The Tanzanian government has launched a number of programs to address this challenge, including social safety net initiatives and three previous phases (also co-financed by the OPEC Fund) of the new project.

The fourth phase will build infrastructure for education, health, water, agriculture, and transportation, and create income-generating activities in animal husbandry and vegetable growing, as well as employment opportunities. The work will be carried out in the Arusha, Mwanza, Geita and Simiyu regions in northern Tanzania and the Njombe region in the south.

OPEC Fund Director General Dr. Abdulhamid Alkhalifa said: “The OPEC Fund has been committed to helping Tanzania reduce poverty and improve socio-economic conditions for many years. This loan will help communities to help themselves by building capacity, strengthening food security and household income, and improving access to social services. We have a strong partnership with Tanzania and we look forward to seeing further progress on key development indicators in the near future. “

The OPEC Fund and Tanzania have a 45-year partnership. During this time, the organization has committed more than $ 370 million to 38 public sector operations (including the current project) in a wide range of sectors.

Transportation is a vital sector that is supported by the OPEC Fund. A recent commitment of US $ 26 million from the organization is funding the Kazilambwa-Chagu Highway Improvement Project. The highway is part of the 1,260 km east-west corridor, linking the two main ports of Dar Es Salaam in Tanzania in the east with Kigoma in the west. The improved connectivity will help increase agricultural and tourism-related activities and facilitate trade with neighboring Burundi and the Democratic Republic of the Congo.

Short Link: https://wp.me/pcj2iU-3xZJ

NNN

NNN: :is a Nigerian online news portal that publishes breaking news in Nigeria, and across the world. Our journalists are honest, fair, accurate, thorough and courageous in gathering, reporting and interpreting news in the best interest of the public, because truth is the cornerstone of journalism and they strive diligently to ascertain the truth in every news report. Contact: editor[at]nnn.com.ng

Coronavirus – Kenya: COVID-19 update (April 17, 2021) Sheffield United relegated from EPL after loss to Wolves Buhari bounces back, preaches compassion FC Barcelona beat Athletic Bilbao to win 31st Copa del Rey title Kebbi secures World Bank grant for girls’ education Nigeria’s active COVID-19 cases increase by 39-NCDC Why Gov. Dapo Abiodun Cleared Backlogs Of Teachers’ Promotion – Commissioner III From Jollof-to-Twitter: Nigeria vs. Ghana Rivalry Continues… FCT calls for action on sanitation and open defecation Police congratulate Senator for rebuilding burnt down post during #EndSARS protest Ramadan: Islam discourages heavy debt Suspected bandits attack Taraba council chairman, kill police member Super Nigeria possible, says ADC 16-year-old Ibironke wins first Oyo junior golf clinic WHO praises Enugu government. for opening during food safety assessment NUJ berates media owners for non-payment of journalists’ salaries NiMet predicts 3 days of sunshine, thunderstorms Go digital: FG will be deployed in Lagos on April 29 – Lai Mohammed Yemen’s Houthi rebels attack Saudi airbase Uganda to import more AstraZeneca vaccines among new variants Chelsea beat Man City to secure their place in FA Cup final Cultism: police arrest 4 teenagers in Lagos CSOs call for the involvement of communities in the selection of projects The DSO will strengthen the IGR of States – Lai Mohammed TCN completes the renewal of the Sokoto-Birnin-Kebbi transmission line Launch of Lagos FreeTv, a crucial step for DSO – FG Why voter apathy characterizes Rivers LG Poll The Alex Otti Foundation selects 58 for scholarships FG inaugurates physical verification of NDDC forensic audit – Minister FG gives delivery date for Lagos road project Prince Philip buried in the royal vault of St George’s Chapel Anglican Conference: Youth Task on Ingenuity, Nation Building FRSC official assigns special marshals on diligence and professionalism Kenya relies on charter flights to boost tourist arrivals Coronavirus – Namibia: COVID-19 update (April 16, 2021) Oyetola urges Muslims to adopt COVID-19 vaccine Voter Apathy March Rivers LG Poll Fabio Aru: “I’m smiling on the bike” Bayelsa Govt. modernizes clinics in rural areas – Official Uber and Bolt drivers threaten strike Monday Coronavirus – Rwanda: COVID-19 update (April 16, 2021) Coronavirus – Ethiopia: COVID-19 update (April 16, 2021) Coronavirus – Malawi: COVID-19 update (April 16, 2021) FG will develop implementation guidelines for out-of-school children INEC trains heads of electoral operations in PU expansion NBA says prolonged JUSUN strike affects justice system Coronavirus – Zimbabwe: COVID-19 update (April 16, 2021) NGO urges community organizations to explore other sources of funding Coronavirus – Uganda: COVID-19 update (April 16, 2021) NMA denies any link to banditry in Zamfara