Tanzania’s President Samia Suluhu Hassan has launched a Shs 1.3trillion robust Development Program which according to her government will see major reforms in the country’s socio-economic sectors mainly Education, Health, Water and Tourism in response to Covid-19 pandemic.
Her government said the program will be implemented for nine months and aims at boosting the country’s economy that has bee battered by the global health pandemic.
Samia said, her government had secured a concessional financial assistance from the International Monetary Fund (IMF) of U$ 567.25billion through Rapid Credit Facility (RCF).
This RCF was created under the Poverty Reduction and Growth Trust (PRGT) as part of a broader reform to make the Fund’s Financial Support more flexible and better tailored to the diverse needs of Low income Countries including times of Crisis.
According to Dr. Mpango Phillip the Vice President, the multimillion facility extended to Tanzania would help bring changes to the country.
He said Covid-19 pandemic had affected Tanzania and families as the country’s work force had been reduced.
“Some families lost their breadwinners and about one million people have now entered into a list of poor people due to the pandemic,” he said.
He added that because of travel restrictions, the toursim sector has also suffered because the number of tourists visiting the country had significantly dropped.