The World Bank has approved 550 million US dollars in financing for Tanzania, according to a statement issued by the country’s Ministry of Finance on Wednesday, April 15.
Of the total amount, 300 million dollars is earmarked for an education programme aimed at strengthening skills development, particularly among young people, while 250 million dollars will be channelled into supporting vulnerable households through the Tanzania Social Action Fund.
The statement further noted that additional projects submitted by Tanzania—covering sectors such as energy, agro-industry and health services in Zanzibar—are currently under consideration for financing.
It added that World Bank investments in Tanzania under the International Development Association have reached 8.96 billion dollars across 35 projects, spanning both national and regional initiatives.