Tanzania: How Tanzania Plans to Spend Sh1.3trillion IMF Loan


Dar es Salaam — The government yesterday outlined how the $576 million Rapid Credit Facility (RCF) from the International Monetary Fund (IMF) will be utilised – what with President Samia Suluhu Hassan warning that she will not tolerate misappropriation of the funds.

Speaking in Dodoma yesterday on expenditure of the funds – which roughly amount to Sh1.3 trillion – Finance and Planning Minister Mwigulu Nchemba said the money would be used to implement development projects in the education, water, health and tourism sectors.

Speaking during the launch of the Development Campaign for National Welfare and the Fight Against Covid-19, Dr Nchemba said the funds would also be used to execute projects that benefit the youth, women and children.

Another $100 million – roughly equivalent to Sh230 billion – would go to Zanzibar. Yet more of the funds would be used to construct 15,000 classrooms in secondary schools and 3,000 in primary schools on Mainland Tanzania.

“About 32 regional Vocational and Education Training Centres (Veta) will be constructed, 462,795 school desks procured and 10,812 books in braille will be published for the blind,” he said.

Dr Nchemba also said that Sh46.2 billion and Sh55.5 billion would be used to implement water projects in urban and rural areas respectively – as well as purchase 25 vehicles with water wells drilling equipment.

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Source link : https://allafrica.com/stories/202110110821.html

Author : Citizen

Publish date : 2021-10-11 15:12:17

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