Tanzania Received $ 120 Million for the Poor and Skills Development

Tanzania has received a major boost of $120 Million from the World Bank to extend its Skill Development initiatives. The funding approved by the Bretton Woods institution will also be directed at training 30,000 youth in productive sectors of the economy.

Another $120 million (Sh250 billion) will be invested in the Skills Development Fund and help train manpower for jobs in tourism and hospitality, agriculture and agribusiness, transport and logistics, construction, information and communications technology (ICT) and energy.

A statement released in Dar es Salaam said the World Bank’s development arm — the International Development Association (IDA) — would avail all the funding for the project. The support is timely, coming at a time when the government is just rolling out its 2016/17 budget plan. President John Magufuli has tailored his administration’s development plan on sectors that have the potential to lift a majority of the people from poverty and create jobs to a million young Tanzanians entering the job market every year.

Note: News shared for public awareness with reference from the information provided at online news portals.