OPEC Fund extends $50m for poverty reduction in Tanzania
The OPEC Fund for International Development has signed a $50 million loan with Tanzania to finance the Fourth Tanzania Poverty Reduction Project.
The project 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.
Transportation is a vital sector receiving OPEC Fund support. A recent $26 million commitment from the organization is financing the Kazilambwa-Chagu Road Upgrading Project. The road is part of the 1,260km east-west corridor, which links Tanzania’s two major ports of Dar Es Salaam in the east to Kigoma in the west.
