WB approves 450 mln USD credit to Tanzania to improve livelihoods of people

Xinhua News Agency | Sep 13, 2019 at 3:07 PM

DAR ES SALAAM, Sept. 13 (Xinhua) -- The World Bank has approved 450 million U.S. dollars credit to Tanzania to improve social safety nets for more than five million Tanzanians, more than half of them women, World Bank said in a statement on Friday.

The statement released in the commercial capital Dar es Salaam said the 450-million-dollar International Development Association (IDA) credit to the Second Productive Social Safety Net Project (PSSN II), implemented by state-run Tanzania Social Action Fund, will seek to improve food consumption and livelihood.

The new financing will also seek to increase children's primary school attendance and completion, as well as their access to healthcare, said the statement, adding that the financing will also improve secondary school participation.

"Tanzania's social safety net program helped beneficiaries to save more money and obtain more assets. As a result, many had more food and access to better education and health care," said Bella Bird in the statement, World Bank Country Director for Tanzania.

She said this new support will be critical to improve the lives of many more people in need and overall raise the country's human capital index.

"We will continue to work with the government and engage with citizens and other stakeholders on the complex set of development issues facing the country and its people," said Bird.

In 2012, the government of Tanzania began implementing the scaled-up first phase supported by IDA through PSSN I, which attained its target of reaching one million households by September 2015, well ahead of schedule, according to the statement.

PSSN I targeted over 10 percent of the country's population, approximately 650,000 households living under the food poverty line as well as about 350,000 at-risk of falling under that line, said the statement.

The objective of this PSSN II is to provide poor households with income-earning opportunities and socio-economic services, while enhancing and protecting the human capital of their children.

The World Bank's IDA was established in 1960 to help the world's poorest countries by providing grants and loans for projects and programs that boost economic growth, reduce poverty, and improve poor people's lives.