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 […]
OPEC Fund Extends $ 50 Million for Poverty Reduction in Tanzania - NNN.
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