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Browsing: World Bank African Group I Constituency
- Funding aimed at increasing the efficiency of domestic resource mobilization and public expenditure.
- The move will enable the government to have more resources to finance public services and respond to economic shocks.
- The program targets more inclusive access to e-declaration and performance-based management in customs administration.
In order to assist Benin in improving the effectiveness of domestic resource mobilization and public expenditure, the World Bank has granted financing from the International Development Association (IDA) totaling $150 million.
The Economic Governance for Service Delivery Program for Results (PforR) will support projects aimed at increasing the effectiveness of domestic resource mobilization and public expenditure. This will to provide the government with greater funding to support public services and react to economic shocks.
The program aims for performance-based management in customs administration and more inclusive e-declaration access.
Additionally, it encourages the creation of a setting favorable to citizen scrutiny of public finances and …
- The increased credit to the private sector is associated with positive growth-focused policies.
- The data shows that there was robust private credit growth except for the tourism industry which is still coming out of the post-pandemic period.
- Overall lending rates dropped slightly from 16.8 percent in August 2021 to 16.1 percent in August last year.
Tanzania is pushing for private sector growth evident in increased credit to the private sector, according to the World Bank.
In the most recent World Bank report on Tanzania’s Economic Update, the growth rate of credit to the private sector increased from 3.2 percent in August 2021 to 20.7 percent in August 2022 and is expected to grow further this year.
The increased credit to the private sector is associated with positive growth-focused policies designed to support private sector recovery in a post-pandemic and slowing global global growth environment.
The development comes as the country …