Browsing: World Bank Tanzania

On a broader scale, the United Nations argued that sub-Saharan Africa loses $95 billion yearly because of the gender gap in the labour market.

Multiple entities are recording the contribution of women to the Tanzania economy, including the National Bureau of Statistics (NBS).

The NBS argue that 65 per cent of farmers are women and women head 33 per cent of households; political processes that promote women are mounting up over the decades.

Around 36 per cent of the national parliamentarians are women—however, legislative and financial barriers, as well as gender norms, hinder advancement.

On the other side of the fence, World Bank argues that Tanzania has made vital strides in expanding women’s economic opportunities over the past two decades.

“The female labour-force participation rate rose from 67 per cent in 2000 to 80 per cent in 2019, well above the average of 63 per cent for sub-Saharan Africa and …

Tanzania, one of the fast-growing economies across the African continent ascended to a low-middle income country status (LMIC) in 2020, amid COVID-19 pandemic shocks.  

The achievements of the East African nation of more than 59 million people have been recognized across the world, with the World Bank (WB) taking note of the country’s success and throwing more than congrats to the table. 

Amid uncertainties brought by the pandemic, threatening the livelihood of communities and the sustenance of investments, the central bank of Tanzania forecast the economy to grow by 5.7 per cent in 2021, fueled by public investment and normalization of global trade and investment. 

Under the new administration guided by the sixth president, Samia Suluhu Hassan, Tanzania has already set its priorities and highlighted some of the key investment deals on the table, including the $3.5 billion East Africa Crude Oil Pipeline (EACOP) and the Tanzania-Kenya $1 billion gas …

Despite the global economic shocks caused by covid-19, in July 2020 the World Bank Group (WB), Tanzania’s development partner categorized Tanzania as a lower middle-income country—which was one of the crucial country milestones achieved over the past year.

Tanzania which is currently eyed to be one of the best performers in the region, despite the pandemic shocks, economy forecasters such as Focus Economics anticipated the East African economy to grow by 5.8 per cent.

However, the WB latest Tanzania economic update proposed several key issues to be prioritized by Tanzania to keep a tight grip on the economic status and ascend further.

Tanzania is currently striving to realize its Development Vision (TDV) 2025 further, by having institutional framework changes on crucial sectors—on the mining sector, taxing, investment and transforming Tanzania into a strategic powerhouse by utilizing its natural gas.

The bank’s Raising the Bar: Achieving Tanzania’s Development Vision, exposed various …

World Bank —Tanzania’s vibrant development partner has predicted a slow down of the Tanzanian real Gross Domestic Product (GDP) to 2.5 per cent in 2020 from 6.9 per cent in 2019.

According to the fourteenth edition of the—Tanzania Economic Update Addressing the Impact of COVID-19, the bank analysis, based on assumptions of strengthened government action on containing the coronavirus pandemic and mitigating the economic impact, as well as improving external conditions, demonstrate real GDP growth slowing to 2.5 per cent in 2020, with substantial downside risk.

The bank’s analysis went further and adjoined the 2018 Household Budget Survey, and found out that, an additional 500,000 Tanzanians could fall below the poverty line, particularly those in urban areas relying on self-employment and informal/micro-enterprises.

However, as the entire globe and the region navigate through the pandemic, Tanzania sustained its consequences adding “economic costs are already being felt in Tanzania and even …

Tanzania and World Bank have been close development partners for more than 54 years, and throughout the years—Tanzania has benefited from several funds that tap into the core of transforming the development landscape in one of the largest economies in East Africa.

According to World Bank, in the last 50 years, the cooperation between the Bank Group and the Government has grown in financing, grants, policy advice, and research; covering various areas from macroeconomic management to projects in transport, energy, education, health, and other key sectors for both Tanzania Mainland and Zanzibar’s development.

Recently the government of Tanzania has experienced a hard-time securing a $500 million education loan from World Bank, scheduled to revitalize the crucial sector in Tanzania.

The loan could be largest financial assistance provided to Tanzania within the past three years aimed at the education sector.

And yet—the loan has been delayed, in the wake of human …