Back
Dar economy nicks milestone
Jul 9, 2020
…..AfDB report backs middle-income status
TANZANIA has registered yet another economic milestone, as incomes of rural producers and traders have increased by three folds, according to African Development Bank (AfDB) latest report.
This follows successful implementation of the project to enhance market infrastructure, value addition and rural finance (MIVARF) undertaken in the country.
With 56.8million US dollars in funding from the AfDB, the programme was undertaken in 32 districts with a population of 6.1 million in 1.2 million households between 2012 and 2017.
According to the report released yesterday by the project team, Tanzania produced highly satisfactory results.
The report comes as a backup to the World Bank (WB), recent decision declaring Tanzania as a lower middle income country, five years ahead of the country's 2025 Development Vision.
The lower middle-income countries (MICs) are defined as economies with a Gross National Income (GNI), per capita between 1,036 US dollars and 4,045 US dollars.
Elaborating on the factors that steered the country towards middle income, Government Chief Spokesperson, Dr Hassan Abasi cited several development projects that earned individuals more income through direct and indirect employment or by selling goods and services during the implementation of the projects.
1Shares
0Comments
0Favorites
0Likes
Say something to impress...
Loading...
Comments
Hot

No content at this moment.

Relevant people
Daily Tanzan
16003 Followers
Gwiji la Habari za Bongo
Related