The World Bank has approved the sum of $292 million as infrastructure fund for Zanzibar, Tanzania, Dr Taufila Nyamadzabo, World Bank Executive Director for Africa Group, said.
This will enable Zanzibar residents to benefit from reliable and affordable electricity as well as modern water and transport infrastructure.
Nyamadzabo assured Tanzania’s Finance and Planning Minister Jamal Kassim Ali that the Bretton Woods institution remains committed to finishing the existing projects and exploring more opportunities for further cooperation with the islanders.
The money is in addition to $4.9 billion the World Bank had already approved to help push mega projects in the country.
The move is part of Tanzania’s decision to opt for donor funding for mega projects.
The government had been using its own internal resources to implement key development projects following a decision by foreign donors to withhold funds.
The limited funding from government revenue made it an uphill task to complete projects as well as cater for the country’s other needs.
Donors had withheld funding in the wake of allegations of human rights violations and repressive government policies during John Magufuli’s reign.
Ms Mara Warwick, the World Bank Country Director for Tanzania, Malawi, Zambia and Zimbabwe, this week met Tanzania’s President Samia Suluhu in Dodoma and pledged that the WB will continue to finance development projects in the country.
Its financing will still be focused on helping the poor and those living in a dangerous environment.