$1.7 Billion Deal Reached Between World Bank And Tanzania
The World Bank and Tanzania have reached a $1.7 billion deal for funding development projects in the East African nation, reported some media on April 13, 2019.
The bank's financial package to Tanzania entails loans and grants for the country's 2019/20 financial year. Projects to be funded include infrastructure and education projects, as well as projects pertaining to poverty reduction.
The financial deal may be seen as huge political milestone for the government of Tanzania, given recent allegations from both the local and international fronts, about deteriorating political conditions in the country. More specifically, the government there has been accused of increasing authoritarianism, systematic harassment and arrest of opposition politicians, unexplained disappearance of some opponents of the government, and violation of individual freedom, among others.
Because of the allegations some multinational organizations including the World Bank and European Union threatened to reconsider their stance as regards issuing of loans and grants to Tanzania. Whether the World Bank deal implies in its view, improvement in Tanzania's political conditions is not known.
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