DEVELOPMENT NEWS
A
US$50 million OPEC Fund loan
to Tanzania will 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 – close to half the
total population – live on less than US$1.90 per day. The Tanzanian government has launched a number of programs to tackle this challenge, including social safety net initiatives and three previous phases (also co-financed by the OPEC Fund) of the new project. Phase four will build infrastructure for education, health, water, agriculture and transportation, and create income-generating activities in animal husbandry and vegetable growing, in addition to employment opportunities. Work will be undertaken 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. The present loan will help communities to help themselves by building capacity, strengthening food security and household incomes, and improving access to social amenities. We have a strong partnership with Tanzania and look forward to seeing more progress on key development indicators in the near future.” The OPEC Fund and Tanzania have a partnership that spans 45 years. During this time, the organization has committed more than US$370 million for 38 public sector operations (including the present project) across a wide range of sectors.
THE OPEC FUND &
TRANSPORTATION Transportation is one
vital sector receiving OPEC Fund support. A recent US$26 million commitment from the organization is financing the
Kazilambwa-Chagu Road Upgrading Project. The road is part of the 1,260 km east-west corridor, which links Tanzania’s two major ports of Dar Es Salaam in the east to
Kigoma in the west. Improved connectivity will help increase agricultural and tourism-related activities, and
PHOTO (inset): Delbars/
Shutterstock.com
facilitate trade with neighboring Burundi and DR Congo.
FOCUS ON SDG 1
A key aim of of SDG 1, among others, is to eradicate, extreme poverty for all people everywhere by 2030. Extreme poverty is currently measured as people living on less than US$1.25 a day. It also commits to the implementation of nationally appropriate social protection systems and measures for all and by 2030 to achieve substantial coverage of the poor and the vulnerable.
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